6 August 2015 / 07:12

Press Releases

HAMBORNER REIT AG invests further funds from capital increase: Purchase agreement signed for ‘Westoria Gießen’ retail centre



(DGAP-Media / 2015-08-06 / 09:12)

HAMBORNER REIT AG invests further funds from capital increase: Purchase agreement signed for "Westoria Gießen" retail centre

Duisburg, 06 August 2015 - HAMBORNER REIT AG can report another successful acquisition of a highly profitable retail property that fits its strategy. Shortly following completion of the capital increase in early July and the subsequently announced acquisition of the "Hornschuch-Center" in Fürth (worth approx. EUR 31 million), HAMBORNER signed a purchase agreement for an additional retail centre in Gießen worth approx. EUR 32 millon.

The "Westoria Gießen", which has a rental area of around 18,000 square metres, is located around four kilometres to the west of Gießen's city centre in an established commercial area. It is a modern retail centre with an appealing mix of tenants and an inviting mall, which covers mainly the local amenities for the area's population. A total of 16 shop units are integrated in the property, which has been established for more than 30 years. The anchor tenants are a real hypermarket and a Saturn electronic goods store.

The average remaining term of leases is around seven years, the gross initial yield is 7.3%. The property is being sold by a property company of the pan-European retail fund Herald, which is managed by TH Real Estate. TH Real Estate's consultants for the transaction were CBRE and the lawyers of Franzen Steinhardt Wehle.

About HAMBORNER REIT AG

HAMBORNER REIT AG is a stock exchange-listed public limited company that today 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.

PR/IR:

Sybille Schlinge
Tel.: +49 (0)203 54405-32
Fax: +49 (0)203 54405-49
E-mail: s.schlinge@hamborner.de
Web: www.hamborner.de



End of Media Release


Issuer: HAMBORNER REIT AG
Key word(s): Real estate

2015-08-06 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
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384135  2015-08-06 

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