Press Release: Eastern Property Holdings Limited (EPH) announces acquisition of 94% of the office and retail complex CityGate in Stuttgart, Germany from The ...

Eastern Property Holdings Limited (EPH) / Eastern Property Holdings Limited (EPH) announces acquisition of 94% of the office and retail complex CityGate in Stuttgart, Germany from The Carlyle Group . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

8 August 2016, Road Town, Tortola, BVI

Eastern Property Holdings ("EPH" or the "Company") announces the signing of the share purchase agreement to acquire 94% ownership interest in office and retail complex CityGate, located in Stuttgart, Germany, from The Carlyle Group.

The property has been acquired through a competitive tender process on market terms. The closing of the transaction is expected by the end of September 2016 subject to various customary closing conditions.

CityGate is a newly constructed Class A office and retail complex with an underground parking garage perfectly located in the center of Stuttgart, in close proximity to the main railway station. The building with a total area of approx. 17,300 sqm on 11 floors (including more than 15,000 sqm of office space) is rented out to reputable national and international tenants. For further information on CityGate please refer to http://citygate-stuttgart.de/.

CityGate is EPH' first core commercial real estate asset in Germany, this transaction follows the strategy of the Company to focus on investments in premium quality income producing commercial property assets. Given its key investment parameters such as excellent location, reputable tenants with long-term leases and highest construction quality, the acquisition of CityGate will further diversify the Company's portfolio and strengthen sustainability of its long-term performance.

Eastern Property Holdings Ltd. is an investment company listed on SIX Swiss Exchange which holds interest in office, residential and retail properties. EPH is managed by Valartis International Ltd. a wholly-owned subsidiary of Valartis Group AG.

Additional information on Eastern Property Holdings is available by contacting Anna Bernhart Tel: +41 44 503 5400.

Additional information on The Carlyle Group is available by contacting Catherine Armstrong, Tel: +44 7429 421037

EPH acquires CityGate: http://hugin.info/139905/R/2033751/757301.pdf

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Eastern Property Holdings Limited (EPH) via Globenewswire

HUG#2033751

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Eastern Property Holdings Limited (EPH)

Valartis Asset Management SA Geneva Switzerland

WKN: 250817;ISIN: VGG290991014;

http://www.easternpropertyholdings.com/ (END) Dow Jones Newswires

   August 08, 2016 00:00 ET (04:00 GMT)- - 12 00 AM EDT 08-08-16