HAMBORNER REIT AG - Changes in portfolio at end of first quarter
Duisburg, 5 April 2017 - HAMBORNER REIT AG is reporting further growth in its portfolio as at the end of the first quarter of 2017. Ownership of two large-scale retail properties has been transferred to HAMBORNER - "Market Oberfranken" in Hallstadt/Bamberg and "Kaufland" in Berlin-Marzahn.
The purchase contract for "Market Oberfranken", which has a rental area of around 21,800 square metres, was signed in early February 2017. The purchase price is EUR40.5 million. Taking into account tenant improvements to be implemented of around EUR3.2 million and annual rental income of EUR2.5 million, the gross initial yield is 5.7%. Ownership transferred on 23 March 2017.
The conditions for a fast transfer of possession were also met in the acquisition of the local retail centre in Berlin's Marzahn-Hellersdorf district. The main tenant of the 6,500 square meters property is the food retailer Kaufland. The annual rental income amounted to around EUR0.9 million and the gross initial yield is 5.3%. After signing the purchase agreement at the end of January, the property was transferred to HAMBORNER's portfolio on 31 March 2017.
Besides the two additions to the portfolio, HAMBORNER transferred ownership of the property in Duisburg, which was sold at the end of 2016, to the buyer on 1 April 2017. The retail property on "Kasslerfelder Kreisel" has a rental area of approximately 5,100 square meters and annual rental income of around EUR0.7 million, and had been owned by HAMBORNER since 2009. With a residual book value of around EUR7.2 million, the sale price was around EUR9.5 million.
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
End of Media Release
Issuer: HAMBORNER REIT AG
Key word(s): Real estate
05.04.2017 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
|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|