Today, the Company's Board of Directors has evaluated and decided to make an attempt to offer the property Schillerstrasse 4, Frankfurt am Main as a project sale through Kartago Capital A/S. The project tender will take place for a limited period until 30 September 2024 and at a sales price of approximately EUR 19.0 million (DKK 141.5 million), so that after sales cost there will be pre-tax proceeds in the amount of approximately EUR 17.8 (DKK 132,6 million) to German High Street Properties A/S. After tax the proceed will be approximately EUR 16,2 million. The liquidity released if the project sale is completed will mainly be used to reduce the company's debt. It will be a condition for German High Street Properties A/S that the project can be completed by subscription of all shares in the project company, so that German High Street Properties A/S will have no future ownership of the property Schillerstrasse 4, Frankfurt am Main.
Any questions can be directed to the undersigned on +45 8110 0800.
German High Street Properties A/S