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DES - Online Annual Report 2008

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3. Investment properties

in € thousands Investment properties
2007
Costs as of 1 January 1,336,193
Currency differences -373
Additions 0
Investments during the current year 2,921
Disposals 0
Reclassifications 156,891
as of 31 December 1,495,632
   
Depreciation and amortisation/impairment losses and reversals as of 1 January 115,809
Currency differences 0
Additions 0
Reversals of impairment losses 46,759
Disposals 0
as of 31 December 162,568
   
Carrying amount 1 January 1,452,002
Carrying amount 31 December 1,658,200

in € thousands Investment properties
2008
Costs as of 1 January 1,495,632
Currency differences -38,129
Additions 0
Investments during the current year 172
Disposals 0
Reclassifications 210,269
as of 31 December 1,667,944
   
Depreciation and amortisation/impairment losses and reversals as of 1 January 162,568
Currency differences 0
Additions 0
Reversals of impairment losses 89,947
Depreciation and amortisation -23,631
Disposals 939
as of 31 December 229,823
   
Carrying amount 1 January 1,658,200
Carrying amount 31 December 1,897,767

The reclassifications relate to the properties in Hameln und Passau, which opened in March and September and were reported at fair value under IAS 40 for the first time.

The properties are secured by mortgages. Land charges exist in the amount of €899,808 thousand.

The rental income of the property valued in line with IAS 40 amounted to €115,343 thousand. The direct operating expenses amounted to €13,108 thousand.

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