Further investment by HAMBORNER REIT AG - Purchase agreement signed for office property in Kiel
Duisburg, 27 July 2016 - HAMBORNER REIT AG continues to pursue its growth path and has signed a purchase agreement for an office property in Kiel.
The new property will be built at an attractive city centre location by the Firth of Kiel in Kaistrasse in the coming months. The property is situated at an established office location in the direct vicinity of Kiel's central railway and bus station and the high-footfall pedestrian zone of Holstenstrasse. The architecturally appealing property will feature a rental area of approximately 6,550 square metres with variable partitioning options. The purchase price is around EUR20.9 million. With initial annual rental income of approximately EUR1.16 million, the gross initial yield is around 5.5%. The purchase price will be paid, and the property transferred to Hamborner, immediately after completion of the property and handover to the tenant, which is expected to be in mid-2017. The seller is a company of the project developer KPE from Wiesbaden. The company Hackenberg & Co., Frankfurt/Main, served in an advisory capacity in the acquisition process.
Furthermore, the end of last month saw the transfer of a large-scale retail property in Ditzingen that was acquired in 2015. The purchase price for the newly built DIY store with a rental area of around 10,000 square metres and a lease term of 20 years is EUR13.6 million. The gross initial yield is roughly 7.0%.
About HAMBORNER REIT AG
HAMBORNER REIT AG is a stock exchange-listed public limited company that exclusively operates in the property sector and is positioned as a portfolio holder for high-yielding commercial properties. The company has sustainable rental incomes, with a nationally-dispersed substantial property portfolio as its foundation. Attractive retail trade spaces in key town centre sites of German cities and intermediate centres form the focal point of the portfolio. In addition, the property portfolio includes highly-frequented specialist stores and profitable office buildings, as well as spaces for medical practices.
HAMBORNER REIT AG stands out due to its many years of experience in the property and capital market, its lean and transparent corporate structure as well as its special proximity to the tenants. Since February 18, 2010 HAMBORNER has been a registered Real Estate Investment Trust (REIT) and benefits at company level from exemption from corporation and trade tax.
Investor Relations & Public Relations:
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Issuer: HAMBORNER REIT AG
Key word(s): Real estate
|Company:||HAMBORNER REIT AG|
|Listed:||Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP Media|