Aggregate Holdings sells two segments from its Quartier Heidestrasse project for €456m, a premium to book value

• QH Core and QH Spring units achieve premium to book value
• Demonstration of demand for new-built assets at premium locations
• Significant buyer interest in remaining QH segments

Luxembourg, 9 September 2022.  Aggregate Holdings S.A. (“Aggregate”) has closed the sale of QH Core and has signed an agreement for the sale of QH Spring, two segments of its landmark Quartier Heidestrasse project (“QH”). The gross purchase price of the two assets is €456m, which implies a premium to book value.

“The sale of these segments at a premium demonstrates the fundamental value and overall quality of Quartier Heidestrasse. The transaction further echoes Aggregate’s capability to create value through the construction of office and residential buildings in Germany’s top cities, even in this challenging environment” commented Cevdet Caner, Chief Executive Officer of Aggregate.

QH Core and QH Spring have a combined gross construction area of 85,095 sqm. Together they represent approximately 15% of the value of the project.

The premium to book value achieved on the transaction demonstrates the strong underlying value of QH as a premium asset, located ten minutes walking distance from Berlin’s famous government district. Leasing volumes continue to be strong with sizeable lease agreements currently being negotiated. Aggregate is in ongoing discussions with other potential buyers on the rest of QH, with approximately 85% of the asset still to be sold as a whole or in parts.

QH Core and QH Spring have been sold to Vivion Investments S.à r.l. (“Vivion”).  The transaction, in whole, will reduce gross debt by around €440m, and reduce LTV by approximately 2.7 percentage points i.e. from 59.8% to 57.1% pro forma FY 2021.

Contact
Benjamin Lee, Chief Financial Officer
Tel : +352 20 30 14 60
Mob : +44 7415 121218
b.lee@aggregateholdings.com

Boris Lemke, Investment Director
Tel : +352 20 30 14 60
Mob : +44 7943 025474
b.lemke@aggregateholdings.com

Dr Christoph Walther, Consigliere Consult
Mob : +49 151 12241630
christoph.walther@consigliere-consult.com

Xander Heijnen, Consigliere Consult
Mob : +49 172 811 9728
xander.heijnen@consigliere-consult.com

About Aggregate Holdings
Aggregate Holdings SA (“Aggregate”) is a predominantly German-focused real estate investment company, with significant presence also in Portugal. As at FY 2021, the company had €7.9bn of assets and a project portfolio with €9.9bn Gross Development Value. In its Build & Hold division, Aggregate owned Quartier Heidestrasse, the largest mixed use real estate development project in central Berlin with c.297,000 sqm of gross floor area (“GFA”), Fuerst, the prime commercial asset located on Kurfuerstendamm in central Berlin with c.183,000 sqm of GFA, and Walter and Green Living projects in Berlin with a combined GFA of c.634,000 sqm. Aggregate also owns in its Build & Sell division VIC Properties, the largest real estate developer in Portugal with c.570,000 sqm of GCA and €3.1bn Gross Development Value. Additionally, Aggregate holds a c.6% strategic stake in Adler Group SA, among other investments.