HAMBORNER REIT AG acquires retail centre in Hanau
Duisburg, 5 September 2016 - At the beginning of September, HAMBORNER REIT AG signed the purchase agreement for the "Rondo Steinheim" retail centre under construction in the southwest of Hanau. The property is currently being constructed on the former area of Möbel Erbe in a well-established business park in the Steinheim district of the city and stands out with its unique architecture. The property benefits from its good transport connections as well as from its direct proximity to a large residential area.
Its rental area will come to around 12,800 square metres. The anchor tenants of the property will be the retailers REWE and ALDI, which have been present in the district for years already. Other tenants will include dm, Deichmann, Action and AWG Mode. The weighted average lease term is around 15 years. The purchase price for the property amounts to EUR37.45 million. With annual rental income of EUR2.04 million, the gross initial yield is 5.44%. The property was developed and sold by Schoofs Immobilien, Neu-Isenburg, from which HAMBORNER already purchased a retail centre with a REWE flagship store in Neu-Isenburg last year.
Completion of the property is scheduled for spring 2017. The transfer of possession is expected to take place in mid-2017 after the handover to the tenants.
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
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