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01.12.2016 07:00:01
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DGAP-News: WCM Beteiligungs- und Grundbesitz-AG
DGAP-News: WCM Beteiligungs- und Grundbesitz-AG: WCM continues optimizing portfolio through active asset management
- EPRA vacancy rate reduced to 3.7 percent
- Lease contracts signed and extended for c. 12,000 m² with an annualized rent of EUR 1.9 M in 2016
- Portfolio acquisition published on 27 September taken on book
Frankfurt, 1 December 2016 - WCM Beteiligungs- und Grundbesitz-AG (WCM AG, ISIN: DE000A1X3X33) has continued with the value-enhancing optimization of the existing portfolio through active asset management. In the past few weeks, new leases, lease extensions and the building expansions have been successfully implemented through WCM's inhouse asset management in Hesse, Lower Saxony and Saxony - with positive effects on occupancy rate, rental income and the weighted average lease time (WALT).
In Frankfurt's "MainTriangel" property a new long-term tenancy agreement for 800 m² has been signed with a term of 12 years. As a result, the occupancy rate of the entire property increased from 87 to over 90 percent and the annual rental income rose to more than EUR 4.9 M. The WALT stands at 17.8 years with a government tenant as the long-term anchor tenant.
In a 3,570 m² office property in Dresden, an additional lease agreement for an area of 1,240 m² is currently being extended by another five years. With an unchanged occupancy rate of 99.6 percent, the WALT of the property increases from 1.9 to 4.2 years.
An existing tenancy agreement with a leading grocery retailer has been negotiated in Lower Saxony, extending 35 percent in rentable space to the asset. The rentable area increased from 1,548 m² to 2,106 m² with the rental income of the property more than doubling. The initial invest of EUR 1.8 M translates into a yield of 7.1 percent. The property is fully let with a WALT of now 15 years after 13.5 years before.
Further value enhancing steps were accomplished through asset management activities at the retail park in Straubing, which was acquired earlier this year on 20 June. Amongst others, the lease contract for two retail spaces with 500 m² each has successfully been extended. As a result, the WALT for Straubing rose from 5.3 up to 5.7 years and the rental income increases by around 1 percent.
As a result of these measures, the EPRA vacancy rate for the entire WCM portfolio decreases to 3.7 percent after 4.1 percent as of Q3 2016.
In addition the transaction announced on 27 September, comprising the EUR 66.5 M purchase of a 52,000 m² retail park with an annualized rental income EUR of 4.4 M was closed on 30 November. This portfolio is financed with an interest rate of about 1.5 percent, fixed for 6 years. Consequently the average interest rate for the entire WCM portfolio falls to below 2 percent for the first time ever.
With these successful portfolio optimizations, WCM continues its positive portfolio development. The portfolio shows a low EPRA vacancy rate of 3.7 percent, an above-average WALT of 9,0 years and continuously rising rents which currently stand at EUR 38.2 M. Overall, leasing renewals and new signings for about 12,000 m² and an annualized rental income of around EUR 1.9 M have been contracted over the course of 2016. 7,500 m² and EUR 1.1 M were achieved in the second half of this year alone. Not yet reflected in these numbers are the recently acquired portfolio of 3 retail centres in Baden Wurtemberg and Saxony-Anhalt.
Stavros Efremidis, CEO of WCM AG: "Portfolio build-up and management is a key priority and the portfolio optimization helps us to be ideally positioned through the different cycles. WCM is very active in both areas thus creating value for its shareholders and consistently increasing it from a very solid base. The recent success of our inhouse asset management shows our capability in both areas."
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 pro forma portfolio has a gross asset value of more than EUR 700 M. 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.
Investor Relations:
Gunnar Janssen Investor Relations WCM Beteiligungs- und Grundbesitz-AG +49 69 963 7319 10 g.janssen@wcm.de www.wcm.de
Press contact:
edicto GmbH Axel Mühlhaus/ Dr. Sönke Knop Eschersheimer Landstraße 42 60322 Frankfurt am Main +49 (0) 69-905505-51 wcm@edicto.de
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01.12.2016 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: 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 E-mail: h.hesse@wcm.de Internet: www.wcm.de ISIN: DE000A1X3X33 WKN: A1X3X33 Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Tradegate Exchange End of News DGAP News Service ---------------------------------------------------------------------------
525709 01.12.2016
DGAP-News: WCM Beteiligungs- und Grundbesitz-AG / Key word(s): Real Estate
WCM Beteiligungs- und Grundbesitz-AG: WCM continues optimizing portfolio
through active asset management
01.12.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
WCM continues optimizing portfolio through active asset management
- Further rental successes and asset expansion
- EPRA vacancy rate reduced to 3.7 percent
- Lease contracts signed and extended for c. 12,000 m² with an annualized rent of EUR 1.9 M in 2016
- Portfolio acquisition published on 27 September taken on book
Frankfurt, 1 December 2016 - WCM Beteiligungs- und Grundbesitz-AG (WCM AG, ISIN: DE000A1X3X33) has continued with the value-enhancing optimization of the existing portfolio through active asset management. In the past few weeks, new leases, lease extensions and the building expansions have been successfully implemented through WCM's inhouse asset management in Hesse, Lower Saxony and Saxony - with positive effects on occupancy rate, rental income and the weighted average lease time (WALT).
In Frankfurt's "MainTriangel" property a new long-term tenancy agreement for 800 m² has been signed with a term of 12 years. As a result, the occupancy rate of the entire property increased from 87 to over 90 percent and the annual rental income rose to more than EUR 4.9 M. The WALT stands at 17.8 years with a government tenant as the long-term anchor tenant.
In a 3,570 m² office property in Dresden, an additional lease agreement for an area of 1,240 m² is currently being extended by another five years. With an unchanged occupancy rate of 99.6 percent, the WALT of the property increases from 1.9 to 4.2 years.
An existing tenancy agreement with a leading grocery retailer has been negotiated in Lower Saxony, extending 35 percent in rentable space to the asset. The rentable area increased from 1,548 m² to 2,106 m² with the rental income of the property more than doubling. The initial invest of EUR 1.8 M translates into a yield of 7.1 percent. The property is fully let with a WALT of now 15 years after 13.5 years before.
Further value enhancing steps were accomplished through asset management activities at the retail park in Straubing, which was acquired earlier this year on 20 June. Amongst others, the lease contract for two retail spaces with 500 m² each has successfully been extended. As a result, the WALT for Straubing rose from 5.3 up to 5.7 years and the rental income increases by around 1 percent.
As a result of these measures, the EPRA vacancy rate for the entire WCM portfolio decreases to 3.7 percent after 4.1 percent as of Q3 2016.
In addition the transaction announced on 27 September, comprising the EUR 66.5 M purchase of a 52,000 m² retail park with an annualized rental income EUR of 4.4 M was closed on 30 November. This portfolio is financed with an interest rate of about 1.5 percent, fixed for 6 years. Consequently the average interest rate for the entire WCM portfolio falls to below 2 percent for the first time ever.
With these successful portfolio optimizations, WCM continues its positive portfolio development. The portfolio shows a low EPRA vacancy rate of 3.7 percent, an above-average WALT of 9,0 years and continuously rising rents which currently stand at EUR 38.2 M. Overall, leasing renewals and new signings for about 12,000 m² and an annualized rental income of around EUR 1.9 M have been contracted over the course of 2016. 7,500 m² and EUR 1.1 M were achieved in the second half of this year alone. Not yet reflected in these numbers are the recently acquired portfolio of 3 retail centres in Baden Wurtemberg and Saxony-Anhalt.
Stavros Efremidis, CEO of WCM AG: "Portfolio build-up and management is a key priority and the portfolio optimization helps us to be ideally positioned through the different cycles. WCM is very active in both areas thus creating value for its shareholders and consistently increasing it from a very solid base. The recent success of our inhouse asset management shows our capability in both areas."
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 pro forma portfolio has a gross asset value of more than EUR 700 M. 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.
Investor Relations:
Gunnar Janssen Investor Relations WCM Beteiligungs- und Grundbesitz-AG +49 69 963 7319 10 g.janssen@wcm.de www.wcm.de
Press contact:
edicto GmbH Axel Mühlhaus/ Dr. Sönke Knop Eschersheimer Landstraße 42 60322 Frankfurt am Main +49 (0) 69-905505-51 wcm@edicto.de
---------------------------------------------------------------------------
01.12.2016 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
---------------------------------------------------------------------------
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 E-mail: h.hesse@wcm.de Internet: www.wcm.de ISIN: DE000A1X3X33 WKN: A1X3X33 Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Tradegate Exchange End of News DGAP News Service ---------------------------------------------------------------------------
525709 01.12.2016
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