GIEAG Immobilien AG: GIEAG successfully completes refinancing measures and secures liquidity

• Measures to stabilize the liquidity situation successfully completed
• GIEAG’s broad positioning ensures a positive outlook and
• Positive going concern forecast confirmed by Independent Business Review

GIEAG Immobilien AG (“GIEAG”) announces that it has successfully extended its financing for up to three years. This is the result of a review of the liquidity situation initiated by the company, during which measures to stabilize the situation were identified and implemented. These included the sale of several portfolio properties, the raising of shareholder loans and two additional bank loans.

“We have successfully completed important measures to stabilize our liquidity position,” says Benjamin Johansson, CEO of GIEAG, and continues: ”On the basis of these measures, commissioned auditing companies have issued a positive going concern forecast in the form of an Independent Business Review (IBR), with the result that the company’s financial position is stable and the continued existence of GIEAG and its project companies is secured.”

Johansson adds: “We have been successfully developing real estate assets for over 20 years. By combining the asset classes of office, residential and logistics as well as the service areas of development and portfolio management, we offer a stable basis for future growth. The strategy of portfolio management is proving its worth, especially in times like these.”