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Speymill Deutsche Immobilien on target with property investments.

Europe Intelligence Wire

| September 27, 2006 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From AFX UK (Focus))

LONDON (AFX) - Aim-listed residential property investment company Speymill Deutsche Immobilien Co PLC is proceeding well with the acquisition of properties, and is on target to invest within the timeframe set out in its AIM admission document, said chairman Raymond Apsey.

The company said it has committed to buying residential properties in various German cities for 429.3 mln eur, from which an initial net rental income of 31.6 mln eur is expected per year.

Speymill added it has secured financing for some specific property packages with a Dutch bank at terms that are better than those originally projected and loan…

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