19.09.2016 07:32:36
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DGAP-News: VIB Vermögen AG
DGAP-News: VIB Vermögen growing with three new properties via in-house development and acquisition
19.09.2016 / 07:32 The issuer is solely responsible for the content of this announcement.
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VIB Vermögen growing with three new properties via in-house development and acquisition
Neuburg/Danube, September 19, 2016 - VIB Vermögen AG, a company specialising in the acquisition, development and portfolio management of commercial properties, is expanding its real estate portfolio with three new properties from the logistics/light industry sector. While the two in-house developments are currently in the implementation phase, the third property relates to the purchase of a real estate asset that is already rented on a long-term basis. Each property is located in the economically strong southern German region. The total investment volume is EUR 30.6 million.
As part of its growth strategy, the company is focussing more strongly on in-house developments. To accomplish this, VIB secured three other properties at the Interpark site near Kösching - one of the most important industrial estates in southern Germany - back in early summer. Construction has now begun for the first property. The completion of the building is slated for the spring of 2017 and will have a rentable space of about 21,000 m². The investment volume amounts to EUR 15.4 million. Even before starting construction, the property was rented to a tenant from the logistics sector for six years from the move-in date. The net initial yield will amount to about eight percent.
The second property is being developed at a site that was purchased in addition to the spaces previously mentioned at the Interpark complex. Its completion is planned for mid-2017. The property will have a rentable space of about 7,000 m². A long-term rental agreement for this property has also already been finalized with the tenant, an international technology company. The agreement has a ten-year term. The investment volume amounts to approximately EUR 8.6 million and will also generate a net initial yield of about eight percent.
Alongside of the ongoing in-house developments, VIB also acquired another logistics property in the direct vicinity of the Innovationspark Wackersdorf. With a letable area of 9,880 m², the property has also been rented for ten years to a tenant company from the automotive sector with outstanding credit ratings. The building is in excellent condition, has a flexible layout and optimal infrastructure connections. The total investment volume is about EUR 6.6 million and will provide a return on rent of seven percent.
"Just one year after completing our then largest in-house development, we are now realising two other attractive projects at the Interpark site. The fact that we could finalize rental agreements for both properties before even starting construction highlights the attractiveness of the location as well as our expertise in developing logistics properties. Being able to acquire an already fully rented property at a favourable price is due to our wide-ranging network in southern Germany," says Martin Pfandzelter, Managing Board member (Real Estate Division) at VIB Vermögen AG.
Contact
Investor Relations:
VIB Vermögen AG Petra Riechert Tel. +49 (0)8431 504 952 Luitpoldstr. C70 Fax: +49 (0)8431 504 973 86633 Neuburg/Donau Email: petra.riechert@vib-ag.de
About VIB Vermögen AG
VIB Vermögen is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.
VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.
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19.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: VIB Vermögen AG Luitpoldstraße C 70 86633 Neuburg/Donau Germany Phone: +49 (0)8431 / 504-952 Fax: +49 (0)8431 / 504-973 E-mail: petra.riechert@vib-ag.de Internet: www.vib-ag.de ISIN: DE0002457512 WKN: 245751 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange; Open Market in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
502727 19.09.2016
DGAP-News: VIB Vermögen AG / Key word(s): Miscellaneous VIB Vermögen growing with three new properties via in-house development and acquisition
19.09.2016 / 07:32 The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
VIB Vermögen growing with three new properties via in-house development and acquisition
Neuburg/Danube, September 19, 2016 - VIB Vermögen AG, a company specialising in the acquisition, development and portfolio management of commercial properties, is expanding its real estate portfolio with three new properties from the logistics/light industry sector. While the two in-house developments are currently in the implementation phase, the third property relates to the purchase of a real estate asset that is already rented on a long-term basis. Each property is located in the economically strong southern German region. The total investment volume is EUR 30.6 million.
As part of its growth strategy, the company is focussing more strongly on in-house developments. To accomplish this, VIB secured three other properties at the Interpark site near Kösching - one of the most important industrial estates in southern Germany - back in early summer. Construction has now begun for the first property. The completion of the building is slated for the spring of 2017 and will have a rentable space of about 21,000 m². The investment volume amounts to EUR 15.4 million. Even before starting construction, the property was rented to a tenant from the logistics sector for six years from the move-in date. The net initial yield will amount to about eight percent.
The second property is being developed at a site that was purchased in addition to the spaces previously mentioned at the Interpark complex. Its completion is planned for mid-2017. The property will have a rentable space of about 7,000 m². A long-term rental agreement for this property has also already been finalized with the tenant, an international technology company. The agreement has a ten-year term. The investment volume amounts to approximately EUR 8.6 million and will also generate a net initial yield of about eight percent.
Alongside of the ongoing in-house developments, VIB also acquired another logistics property in the direct vicinity of the Innovationspark Wackersdorf. With a letable area of 9,880 m², the property has also been rented for ten years to a tenant company from the automotive sector with outstanding credit ratings. The building is in excellent condition, has a flexible layout and optimal infrastructure connections. The total investment volume is about EUR 6.6 million and will provide a return on rent of seven percent.
"Just one year after completing our then largest in-house development, we are now realising two other attractive projects at the Interpark site. The fact that we could finalize rental agreements for both properties before even starting construction highlights the attractiveness of the location as well as our expertise in developing logistics properties. Being able to acquire an already fully rented property at a favourable price is due to our wide-ranging network in southern Germany," says Martin Pfandzelter, Managing Board member (Real Estate Division) at VIB Vermögen AG.
Contact
Investor Relations:
VIB Vermögen AG Petra Riechert Tel. +49 (0)8431 504 952 Luitpoldstr. C70 Fax: +49 (0)8431 504 973 86633 Neuburg/Donau Email: petra.riechert@vib-ag.de
About VIB Vermögen AG
VIB Vermögen is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.
VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.
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19.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: VIB Vermögen AG Luitpoldstraße C 70 86633 Neuburg/Donau Germany Phone: +49 (0)8431 / 504-952 Fax: +49 (0)8431 / 504-973 E-mail: petra.riechert@vib-ag.de Internet: www.vib-ag.de ISIN: DE0002457512 WKN: 245751 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange; Open Market in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
502727 19.09.2016
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