25 September 2012 / 06:30

Press Releases

HAMBORNER REIT AG: Purchase agreement for OBI DIY store in Hamburg signed



(DGAP-Media / 25.09.2012 / 08:30)

 

Press Release

HAMBORNER REIT AG - Purchase agreement for OBI DIY store in Hamburg signed

- Investment of funds from capital increase progresses as planned

- Investment volume of approximately EUR17.2 million

- 15-year rental agreement

Duisburg, 25 September 2012 - The investment of funds from the capital increase at HAMBORNER REIT AG is continuing to make rapid progress. Following the acquisition of an E-Center in Tübingen at the end of August, the company has now signed the purchase agreement for an OBI DIY store in Hamburg.

The property with rental space of around 10,000 square metres is currently under construction. It is located in a business area at the main traffic artery of Sander Damm/Kurt A.-Körber-Chaussee in the Bergedorf district, roughly 15 kilometres from Hamburg city centre. The DIY store operator OBI has concluded a 15-year rental agreement for this location, which is scheduled for completion in late 2013.

The seller of the property is a project company of Procom, a Hamburg-based project developer that has been successfully conducting project development and investment activities on the German market nationwide for almost three decades. The project was brokered by the agent IAM Immobilien Asset Management, also based in Hamburg. The purchase price for the property is approximately EUR17.2 million and the gross initial yield is around 7.3%.

HAMBORNER REIT AG intends to continue its expansion in the asset classes of retail and office properties. As such, the acquisition of the properties in Tübingen and Hamburg is consistent with the company's growth-oriented strategic approach.

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, apartments and parking spaces.

Furthermore, the company still has approximately 1.4 million m² of undeveloped land areas, which are located predominantly in Duisburg North and in the adjacent municipalities of Dinslaken and Hünxe.

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:

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): Enterprise

25.09.2012 Dissemination of a Press Release, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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186203  25.09.2012

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