IMMOEAST Annual Report 2006/07

Investments in other companies include an atypical silent partner investment in “Wienerberg City” Errichtungsgesellschaft
m.b.H., which has an acquisition cost of TEUR 10,000. IMMOEAST Beteiligungs GmbH as the atypical silent
partner participates in the profit and loss, and total assets of the company (including goodwill and undisclosed
reserves) in proportion to its investment. The allocation of losses is limited to a maximum of 120% of the silent partner
contribution. During the 2006/07 financial year, a revaluation of TEUR 1,300.1 was recorded to this investment,
but not recognised through profit or loss. The carrying value totalled TEUR 11,075.9 as of 30 April 2007.
Financial instruments comprise securities and derivatives. Information on the conditions and market values of the
derivatives is provided under points 8.1.2.2.1.2 and 8.1.2.2.2.
The conditions of the remaining investments in other companies are as follows:
The total commitment of IMMOEAST in Polonia Property Fund Ltd. equals TEUR 20,000.0, whereby the focal point of
investments made by this fund is placed on Poland, Hungary and the Czech Republic.
The investment activities of Heitman Central Europe Property Partners II also concentrate on Poland, Hungary, the
Czech Republic and Slovakia in the CEE segment. The total commitment of IMMOEAST in this investment equals
TEUR 20,000.0, with a term limited to the end of 2009.
In addition, IMMOEAST holds three investments that focus exclusively on the CIS segment. The total commitment
amounts to TEUR 48,204.9 in Eastern Property Holdings Ltd., TEUR 93,142.6 in FF&P Russia Real Estate Ltd. and
TEUR 18,375.6 in the FF&P Development Fund.
Heitman Central Europe Property Partners III invests in Poland, Hungary, the Czech Republic, Slovakia, Bulgaria and
Romania as well as in the CEE and SEE segments. The total commitment of IMMOEAST equals TEUR 25,000.0 and
ends in 2015.
IMMOEAST holds a total commitment of TEUR 36,000.0 in the Global Emerging Property Fund, whose investment
activities focus primarily on Romania, Bulgaria and Serbia. The term of this commitment is also limited to 2015.
Report by the Executive Board 201
Highlights 2006/07
Business Model and Strategy
Portfolio Structure
Corporate Governance and Outlook
Property Portfolio
Development of Business
Consolidated Financial Statements
Service and Glossary
Revaluation/ Revaluation/
impairment impairment Group
Group carrying Additions/ charges through charges through carrying Distribu-
Total Focus of value as of disposals in profit/loss in profit/loss in value as of tions in
All amounts in TEUR Commitment investment Term 30.4.2006 2006/07 2006/07 2006/07 per 30.4.2007 2006/07
Polonia Property Fund Ltd.
Heitman Central Europe
20,000.0 PL, H, CZ Mid-2010 19,256.2 6,260.0 0.0 5,368.6 31,538.3 0.0
Property Partners II 20,000.0 PL, H, CZ, SK End of 2009 19,274.4 684.3 0.0 733.5 20,038.6 3,777.8
Eastern Property Holdings Ltd. 48,204.9 CIS 15,725.3 36,222.2 4,698.3 0.0 56,645.7 216.0
FF&P Russia Real Estate Ltd. 93,142.6 CIS Mid-2009 16,275.5 24,119.3 -947.1 0.0 39,447.8 597.7
Global Emerging Property Fund
Heitman Central Europe Property
36,000.0 RO, BG, SBR Mid-2015 4,415.4 16,281.3 7,848.0 0.0 28,544.7 0.0
Partners III 25,000.0 PL, H, CZ, SK, BG, RO Mid-2015 3,107.1 8,224.3 484.6 0.0 11,816.0 0.0
Prime Property BG Reit 11,766.2 BG 5,259.7 7,127.8 -510.4 0.0 11,877.1 0.0
Bluehouse Accession Property II 30,000.0 BG, RO End of 2016 0.0 5,250.0 841.2 0.0 6,091.2 0.0
MOF Immobilien AG 50,000.0 A, CRO, SRB, UA, BG End of 2009 0.0 2,130.0 0.0 0.0 2,130.0 0.0
Adama 160,341.1 RO, BG, MD 0.0 26,724.7 0.0 0.0 26,724.7 0.0
FF&P Development Fund 18,375.6 CIS Start of 2010 0.0 7,981.9 0.0 0.0 7,981.9 0.0
Europa Emerging Europe Fund Ltd. 25,000.0 SRB, TR, UA, MK, MNE Start of 2015 0.0 0.0 0.0 0.0 0.0 0.0
Dikare Holdings Ltd.
Polus Transilvania Companie
5,302.0 RO 0.0 1,575.0 0.0 0.0 1,575.0 0.0
de Investitii S.A. 185,000.0 RO 0.0 28,470.9 0.0 0.0 28,470.9 0.0
Notes