Joint Venture mit Merrill Lynch Global Principal Investments

Portfolio	Argo
Total investment	approx. 150 million Euros
Investment CRE AG	10%
Key figures*	Total rental space: 139,837 m² Retail: 2,308 m² Office: 225,502 m² Residential: 54,795 m² Hotel: 16,892 m² Warehouse: 21,885 m² Logistical: 6 m² Other: 19,456 m²
Description*	This nationwide joint venture comprising 14 properties was established in May 2007. The residential and commercial properties owned by the joint venture are located primarily in the regions of Hanover, Dresden and Leipzig. The joint venture’s strategy with regard to its properties is primarily one of capital appreciation through follow-on leasing and new tenant acquisition. The joint venture’s exit strategy involves the sale of individual properties.
Portfolio	Pepper
Total investment	approx. 75 million Euros
Investment CRE AG	10%
Key figures*	Total rental space: 68,539 m² Retail: 7,649 m² Office: 29,550 m² Residential: 28,690 m² Other: 29,550 m²
Description*	Also the pepper portfolio is a nationwide joint venture. The strategy consists of capital appreciation through follow-on leasing and new tenant acquisition. As an exit strategy the sale of single properties is intended. 13 objects were already sold.
Portfolio	Anna
Total investment	approx. 103 million Euros
Investment CRE AG	7,5%

* This information is related to the date of aquisition.