HAMBORNER REIT AG acquires office and commercial building in Bamberg
Duisburg, 2 October 2018 - HAMBORNER REIT AG has yesterday signed the purchase agreement for a property in Bamberg. The property being acquired is a modern office and commercial building from 2013, located approximately 2.5 kilometres from the centre of Bamberg in the Ost district. Bamberg-Ost is characterised not just by its central location, but also its optimal traffic infrastructure and high population density.
The main tenant of the roughly 6,100 m² property is the food retailer EDEKA, which has a long-term lease. In addition to the retail space on the ground floor, the property has four upper floors featuring multiple contemporary office units. The weighted remaining term of the leases is around 8.5 years. The purchase price of the property is EUR15.0 million. With annual rental income of around EUR0.83 million, the gross initial yield is 5.5%.
The property is being sold by a project development company. The transaction was brokered by Blank Real Estate (Frankfurt/Main). Payment of the purchase price and transfer of ownership of the property are provisionally scheduled for the middle of 2019.
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; London, SIX|
|End of News||DGAP Media|