ORCO Germany S.A.: Sale of Leipziger Platz completed
The transaction is being executed in several instalments. The first part of the sales price of EUR 67 million has been paid today and has been solely used to repay the bank debt for the project. A second part is expected to be paid in February. A third part is deferred to cover for project development risks overtaken by ORCO. The last additional payment will become due after finalization of the project.
"We are very happy that the sale of the Leipziger Platz project has been completed successfully and construction has started. We are convinced of the success of the project for both HGHI and ORCO Germany", says Jean-François Ott, CEO of ORCO Germany.
Orco Germany S.A.
ORCO Germany S.A. is a property company that is listed in the Prime Standard on the Regulated Market at Frankfurt Stock Exchange and has its registered office in Luxembourg. The ORCO Germany Group, which acts consistently under its registered name of ORCO Germany, has been operating in Germany since 2004 and concentrates on commercial property as well as on asset management and project development.
ORCO Germany is a subsidiary of ORCO Property Group, which is one of the leading Central European property companies. The company established in 1991 is based in Luxembourg and has Euronext, Prague, Budapest and Warsaw Stock Exchange listings.