01.05.2018
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DGAP-Adhoc: ROY Ceramics SE: Participation in the project development of a multi-family high-rise in Houston, Texas
DGAP-Ad-hoc: ROY Ceramics SE / Key word(s): Real Estate
ROY Ceramics SE: Participation in the project development of a multi-family
high-rise in Houston, Texas
01-May-2018 / 04:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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ROY Ceramics SE is participating in the project development of a
multi-family high-rise in Houston, Texas
1. May, 2018, Hungen - ROY Ceramics SE (WKN RYSE88, ISIN DE000RYSE888),
through its subsidiary in the US, concluded an joint venture agreement with
a project partner in the US today for the development of a multi-family
high-rise. This project is a further step in expanding the presence of ROY
Ceramics SE in the US and strengthening the real estate business area.
The project involves the construction of a high-rise with approximately 328
residential units and approximately 1,380 m² of commercial space. The site
is centrally located in Houston. The project will take approximately two
years to build and stabilization is expected within two years after that.
The total investment will be approximately USD ~130 million, of which ROY is
investing USD 29.0 million in equity. The amount of the construction costs
will be secured by a guaranteed maximum price contract. ROY's project
partners are a leading property developer in Houston with a proven track
record of successfully developing such projects and a large US based
engineering and design firm. The implementation of the project will commence
immediately.
It is planned that the project will be sold after it is completed and
stabilized. Leasing of the units is expected to start in Q4 2019 with
project stabilization expected by Q2 2021.
Contact:
Matthias Herrmann
Managing Director
ROY Ceramics SE
Bockenheimer Landstr. 17/19
60325 Frankfurt am Main
Tel. +49 (0)69 710455155
Fax +49 (0)69 710455450
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01-May-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: ROY Ceramics SE
Gießener Str. 42
35410 Hungen
Germany
Phone: +49 (0) 69 710455155
Fax: +49 (0) 69 710455450
E-mail: [email protected]
Internet: www.roykeramik.de
ISIN: DE000RYSE888
WKN: RYSE88
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Dusseldorf, Stuttgart; Wien (Dritter
Markt (MTF) / Third Market (MTF))
End of Announcement DGAP News Service
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681145 01-May-2018 CET/CEST
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