PTA-News: Peach Property Group AG: Sale of the former Hoesch headquarters in Dortmund to NOVUM Development |
Thursday, 19. December 2019 07:00 |
---|
Business news for the stock market
Zürich (pta008/19.12.2019/07:00) - Peach Property Group, an investor specialising in the management of residential property has sold its property in Rheinische Strasse 173 in Dortmund to NOVUM Development, a company of DET Beteiligungsgesellschaft (DET Holding), specialising in project development. The building is the former headquarter of Hoesch-Union, centrally located adjacent to the "Smart Rhino" development area at the heart of the city of Dortmund. The parties have agreed not to disclose the purchase price; the transaction is expected to be closed at the beginning of the second quarter of 2020. NOVUM Development is planning to convert the listed property into a hotel, whereby the Hamburg based hotel group NOVUM Hospitality will lease the building on long-term, operating the hotel under its lifestyle brand "the niu". Dr. Thomas Wolfensberger, Peach Property Group's CEO, commented: "We are very pleased that NOVUM Development will realize the planned hotel development in this impressive property. The sale of this commercial property will further sharpen our profile as residential real estate investor with now around 13,000 apartments in Germany in our portfolio." David Etmenan, Chief Executive Officer & Owner NOVUM Hospitality: "We are delighted, not only to be able to function as the project owner of this historic industrial property, but also to operate the planned hotel with NOVUM Hospitality under our millennial brand "the niu" in the near future. The new hotel will provide unique overnight accommodation for both leisure and business travellers at the heart of North Rhine-Westphalia" Contacts:
Media, investors and analysts
Media Germany
NOVUM Hospitality
About Peach Property Group AG
Peach Property Group AG has its registered office in Zurich and the Group is headquartered in Cologne. Peach Property Group AG is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto Garzetti (President), Peter Bodmer, Dr. Christian De Prati and Kurt Hardt. You can find more information at http://peachproperty.com
About NOVUM HOSPITALITY
For further information visit http://novum-hospitality.com (end) emitter: Peach Property Group AG
ISIN(s): CH0118530366 (share)
|
Related Links: Peach Property Group AG |
Author: |