HAMBORNER REIT AG achieves portfolio growth and reports further successes in letting operations

Press Release

HAMBORNER REIT AG achieves portfolio growth and reports further successes in letting operations

- Addition of new office property in Aachen

- Signing of new anchor tenant of good credit standing secures full long-term occupancy (total WALT >11 years)

- Creation of around 4,500 square metres of additional potential office space

- Full letting of Bonn office property guarantees long-term rental income (total WALT >10 years)

TRANSFER OF OWNERSHIP AND FULL LETTING OF OFFICE PROPERTY IN AACHEN

Duisburg, 18 June 2020 - In a competitive acquisition environment with consistently strong demand for attractive commercial properties, HAMBORNER REIT AG is pleased to report the transfer of ownership of another property in Aachen to its portfolio.

The property acquired is an office project development built at an established office location in Aachen-Mitte in recent months. The property meets the latest building and energy standards, and has around 8,300 square metres of rental space that can be divided up according to tenant requirements. A long-term lease was signed with the health insurance company Barmer even before the construction process began. AOK Rheinland, another anchor tenant of good credit standing from the insurance sector, has now signed on for the remaining 4,600 square metres, making a commitment to the location for a period of ten years. Following the signing of the lease with AOK, the property is now fully let with a weighted average lease term (WALT) of 11.2 years.

It was originally intended that the property would have around 140 parking spaces at ground level only. In order to meet the increased tenant requirements and to further boost the location's appeal, a state-of-the-art five-storey car park with around 300 spaces is now being built, and is expected to be completed by the end of 2020. The resulting increase in the number of parking spaces and the consolidation of the parking areas form the basis for a possible extension of the office building by up to 4,500 square metres, which could be implemented if demand arises.

As a result of the long-term letting of the vacant areas and the construction of the parking garage, the investment costs at the location are rising to around €37.3 million. With annual rental income of around €1.9 million, the gross initial yield is 5.1%.

FULL LETTING OF OFFICE PROPERTY IN BONN

This week, HAMBORNER has enjoyed another rental success as it has secured a long-term lease for the remaining vacancies in its Bonn office property. The newly built property in the Bonn-Tannenbusch district with a total area of around 6,200 square metres was added to HAMBORNER's portfolio immediately after it was completed as at 1 January 2020. The vacant space of approximately 1,500 square metres, which had been covered by a rent guarantee since ownership was transferred, has now been let to ista, an energy and building services provider, for a period of ten years. Following the signing of the lease, the building is fully let, and the leases have an average remaining term of 11.8 years.

ABOUT HAMBORNER REIT AG

HAMBORNER REIT AG is a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around €1.6 billion. The portfolio focuses on modern office properties as well as local supply properties as large-scale retail assets, retail parks, DIY stores and attractive high street properties in major German cities and mid-sized centres.

HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainable dividend policy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.

CONTACT INVESTOR RELATIONS & PUBLIC RELATIONS

Christoph Heitmann
Tel.: +49 203 54405-32
Fax: +49 203 54405-49
E-mail: c.heitmann@hamborner.de
Web: www.hamborner.de