09.05.2016 10:27:51
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DGAP-News: WCM Beteiligungs- und Grundbesitz-AG
DGAP-News: WCM Beteiligungs- und Grundbesitz-AG: WCM disposes Bremerhaven asset at book value
09.05.2016 / 10:27 The issuer is solely responsible for the content of this announcement.
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WCM disposes Bremerhaven asset at book value
- Selling price equals book value as of 31 December 2015
- WCM concentrates portfolio solely on retail and office
- Including the recent divestment of three assets WCM has sold four non-strategic assets totalling 25 million Euros in 2016
Frankfurt am Main, 9 May 2016 - SDAX listed WCM Beteiligungs- und Grundbesitz AG (WCM AG, ISIN: DE000A1X3X33) sold an industrial property in Bremerhaven. The stake of 92.9 percent held by WCM was divested per 31 December 2015. The selling price equals the book value and includes the remaining debt. The property has approximately 68,000 square meters and was bought by a local investor.
The property in Bremerhaven, acquired by WCM at the end of 2014 through a contribution in kind, has significantly supported the reactivation of WCM AG. The divestment reduced the vacancy rate of the portfolio to 3.9 percent, while increasing the average remaining lease term (WALT) to 9.8 years as of 31 March 2016.
Including Bremerhaven, WCM sold four non-strategic assets for a total of c. 25 million Euros in 2016. The divestment of three assets announced on 29 April 2016 resulted in a pre-tax profit of 1.6 million Euros (+ 26 percent) compared to the book value. The divestment of non-strategic assets is part of WCM's strategy.
About WCM AG
WCM Beteiligungs- und Grundbesitz-AG (WCM AG), with headquarters in Frankfurt am Main, is a specialised commercial real estate company. As a real estate proprietor, the focus is on long-term rental of high-quality office and retail properties in the major office locations in Germany. Since the operational restart in 2014, WCM AG has focused on an extensive network for the acquisition of properties as well as on value-creating asset management, in order to generate attractive long-term rental income and a steady cash flow. The portfolio has a gross asset value of more than EUR 500 million. The company has extensive loss carry forwards in corporate and commercial tax. Shares of WCM AG are listed in the SDAX of Deutsche Boerse since 21 December 2015.
Press contact:
edicto GmbH Axel Mühlhaus/ Dr. Sönke Knop +49 (0) 69-905505-51 wcm@edicto.de
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09.05.2016 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. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: WCM Beteiligungsund Grundbesitz-AG Bleichstr. 64-66 60313 Frankfurt am Main Germany Phone: +49 (0)30 8870 476-10 Fax: +49 (0)30 8870 476-20 Internet: www.wcm.de ISIN: DE000A1X3X33, SDAX WKN: A1X3X33 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Stuttgart; Regulated Unofficial Market in Munich End of News DGAP News Service ---------------------------------------------------------------------------
461473 09.05.2016
DGAP-News: WCM Beteiligungs- und Grundbesitz-AG / Key word(s): Disposal/Real Estate WCM Beteiligungs- und Grundbesitz-AG: WCM disposes Bremerhaven asset at book value
09.05.2016 / 10:27 The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
WCM disposes Bremerhaven asset at book value
- Selling price equals book value as of 31 December 2015
- WCM concentrates portfolio solely on retail and office
- Including the recent divestment of three assets WCM has sold four non-strategic assets totalling 25 million Euros in 2016
Frankfurt am Main, 9 May 2016 - SDAX listed WCM Beteiligungs- und Grundbesitz AG (WCM AG, ISIN: DE000A1X3X33) sold an industrial property in Bremerhaven. The stake of 92.9 percent held by WCM was divested per 31 December 2015. The selling price equals the book value and includes the remaining debt. The property has approximately 68,000 square meters and was bought by a local investor.
The property in Bremerhaven, acquired by WCM at the end of 2014 through a contribution in kind, has significantly supported the reactivation of WCM AG. The divestment reduced the vacancy rate of the portfolio to 3.9 percent, while increasing the average remaining lease term (WALT) to 9.8 years as of 31 March 2016.
Including Bremerhaven, WCM sold four non-strategic assets for a total of c. 25 million Euros in 2016. The divestment of three assets announced on 29 April 2016 resulted in a pre-tax profit of 1.6 million Euros (+ 26 percent) compared to the book value. The divestment of non-strategic assets is part of WCM's strategy.
About WCM AG
WCM Beteiligungs- und Grundbesitz-AG (WCM AG), with headquarters in Frankfurt am Main, is a specialised commercial real estate company. As a real estate proprietor, the focus is on long-term rental of high-quality office and retail properties in the major office locations in Germany. Since the operational restart in 2014, WCM AG has focused on an extensive network for the acquisition of properties as well as on value-creating asset management, in order to generate attractive long-term rental income and a steady cash flow. The portfolio has a gross asset value of more than EUR 500 million. The company has extensive loss carry forwards in corporate and commercial tax. Shares of WCM AG are listed in the SDAX of Deutsche Boerse since 21 December 2015.
Press contact:
edicto GmbH Axel Mühlhaus/ Dr. Sönke Knop +49 (0) 69-905505-51 wcm@edicto.de
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09.05.2016 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. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: WCM Beteiligungsund Grundbesitz-AG Bleichstr. 64-66 60313 Frankfurt am Main Germany Phone: +49 (0)30 8870 476-10 Fax: +49 (0)30 8870 476-20 Internet: www.wcm.de ISIN: DE000A1X3X33, SDAX WKN: A1X3X33 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Stuttgart; Regulated Unofficial Market in Munich End of News DGAP News Service ---------------------------------------------------------------------------
461473 09.05.2016
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