Partners Immobilien Capital Management agreed to acquire 8 development projects of Consus Real Estate AG (XTRA:CC1) on May 20, 2020. The development projects have a GDV of €2 billion. Consus will reduce its project finance debt by around €390 million due to this transaction. The transaction is subject to closing adjustments and conditions. The transaction is expected to close not later than in Q3 2020. Transaction will positively impact Net Debt/Adjusted EBITDA. 8 development projects of Consus Real Estate AG has a gross asset value of EUR 400 billion. As of November 30, 2020 transaction is expected to close before the end of the year.