ROY Ceramics SE invests in Jurupa Valley Real Estate Project
April 06, 2018, Hungen – ROY Ceramics SE (WKN RYSE88, ISIN DE000RYSE888) today signed an agreement to invest in the Jurupa Valley Real Estate Project.
Jurupa Valley Real Estate Project
ROY Ceramics SE today entered into an agreement to invest in a project development in Jurupa Valley. Jurupa Valley, is located in Riverside County in the US state of California. The total project includes a building area of approximately 31,800 sqm with a land area of approximately 10 hectares. It is planned to construct a total of 215 residential units, 97 of which will be single-family homes and 118 of which will be multi-family homes, in various construction phases over a three-year period. The total project cost is estimated at USD 61.8 million. ROY will participate in this project with USD 5 million, as majority shareholder.
After completion of one construction phase, it is planned to sell the constructed property in the short term in order to finance the next construction phase with the sales proceeds. A first partial distribution is to be made after one year at the earliest and depending on the financial situation of the project company. Based on the current estimate, ROY expects an annual return on equity on the invested amount of approximately 16% p.a. over the entire term.
Contact:
Matthias Herrmann
Managing Director
ROY Ceramics SE
Bockenheimer Landstr. 17/19
60325 Frankfurt am Main
Phone +49 (0)69 710455155
Fax +49 (0)69 710455450