HAMBORNER REIT AG / Key word(s): Enterprise/
HAMBORNER REIT AG further increases portfolio - commercial property in Lemgo transferred
Duisburg, 12 November 2010 - HAMBORNER REIT AG has further increased its portfolio. Ownership for a business property in prime location in the Mittelstrasse pedestrian precinct in Lemgo, for which the company was able to sign the contracts back in August, was transferred on 12 November 2010. The purchase price totals around EUR 6.8m, with an initial gross return of around 7%. The former Hertie department store had been completely renovated by the seller for the lessees, Hennes & Mauritz and C&A. It now has a total rental space of some 4,600sqm. C&A is already open for business, H&M followed on 11 November 2010.
On the seller's side is the project developer Amandla from Iserlohn. The property sale was mediated by the firm SQM Property Consulting from Münster
HAMBORNER REIT AG will continue to expand in its retail and office property asset classes. On the whole, HAMBORNER has been able since early in the year to invest around EUR 90m in new, attractive properties, two thirds of which have now been transferred. A successfully placed increase in capital stock in October with net proceeds from the issue of around EUR 76m furthermore provided the basis for further growth.
HAMBORNER REIT AG is a public limited company listed on the stock exchange which today works exclusively in the real estate sector and occupies a position as a portfolio holder for high-yield commercial properties. The basis of the company's sustainable rental income is a substantial real estate portfolio that is spread throughout the country. The main focus of the portfolio consists of attractive retail space in central city centre locations in Germany and resources centres. Furthermore, the property portfolio comprises highly frequented specialist stores and profitable office buildings, as well as doctors' surgeries, apartments and car parks.
Additionally, the company possesses around 2.4 million m² of undeveloped land, which is mainly located in the north of Duisburg and the neighbouring local authority districts of Dinslaken and Hünxe.
The outstanding features of HAMBORNER REIT AG are its many years of experience in the real estate and capital market, its lean and transparent corporate structure and its particular proximity to the tenants. The company is a registered Real Estate Investment Trust (REIT) and benefits at the company level from exemption from corporation and trade tax.
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|Company:||HAMBORNER REIT AG|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard), Hamburg, München, Düsseldorf, Berlin, Stuttgart|
|End of News||DGAP News-Service|