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BRIEF-UBM Development sells new “Zalando Headquarter” in Berlin for 196 mln euros
April 3, 2017 / 10:25 AM / 8 months ago

BRIEF-UBM Development sells new “Zalando Headquarter” in Berlin for 196 mln euros

April 3 (Reuters) - UBM Development AG:

* UBM sells new “Zalando Headquarter” in Berlin for 196 million euros ($208.78 million)to Capstone Asset Management in a forward deal

* Project has been sold to a South Korean asset manager, capstone asset management, for 196 mln euros in form of a forward deal

* Completion of the project is planned for the third quarter of 2018

* The transaction in the form of a forward deal is expected to have an impact on net debt already in the second quarter of 2017

* Impact on total output and revenue will be recognised after planned completion and handover in the third quarter of 2018 Source text - bit.ly/2nvMX9r Further company coverage: ($1 = 0.9388 euros) (Gdynia Newsroom)

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