ROY Asset Holding SE: sells Kirby Interchange in Houston/Texas
DGAP-News: ROY Asset Holding SE / Key word(s): Disposal
20.02.2020 / 09:05
The issuer is solely responsible for the content of this announcement.
ROY Asset Holding SE sells Kirby Interchange in Houston/Texas
February 20, 2020, Hungen – ROY Asset Holding SE (WKN RYSE88, ISIN DE000RYSE888) reaches a significant milestone in its real estate business with the sale of Kirby Interchange in Houston/Texas.
ROY Asset Holding SE is selling Kirby Interchange for USD 35 million. “This is the first relevant real estate exit in the USA for the ROY Group and underlines that the realignment and expansion of the company’s business activities in 2017 with the real estate division and the focus on the regions Los Angeles/California and Houston/Texas in the USA was the right decision and that the ROY Group has set the course for further growth with the first major exit in the real estate sector”, comments Matthias Herrmann, Managing Director of ROY Asset Holding SE. Thanks to the investments made in the property over the last two years and the measures taken to increase the value of the property, the return on equity over the holding period of the property has improved to a total of approx. 17.5% p.a. ROY plans to invest the proceeds in existing and new projects in the Group’s business areas.
About ROY Asset Holding SE
ROY Asset Holding SE has positioned itself in the real estate sector as a project developer focusing on the USA in the fast-growing regions of Los Angeles/California and Houston/Texas. In the ceramics sector, ROY Asset Holding SE is active as a manufacturer of high-quality tiles “Made in Germany” for use in medium to high-priced premises and businesses.