HAMBORNER REIT AG - Purchase agreement signed for retail and office property in Karlsruhe
- Third agreement signed since capital increase - 75% of property pipeline invested
- Investment volume of around EUR37 million
- Rental income of around EUR2.4 million p.a.
Duisburg, 31 October 2012 - HAMBORNER REIT AG is making rapid progress in the investment of the funds from its capital increase. Following its acquisition of the E-Center in Tübingen and the OBI store in Hamburg, the company has now signed a purchase agreement for a commercial property in which the core tenant is EDEKA. Thus, the company has already acquired three out of four properties in the pipeline developed in connection with the capital increase. The property purchased in this agreement is an attractive district centre on Rüppurrer Strasse 1, an exposed and highly frequented part of Karlsruhe close to the city centre. On the ground floor, EDEKA operates a large-area supermarket. The top floors of the roughly 15,000 m² complex are home to several offices, medical practices and catering establishments.
The purchase price is around EUR37 million and the gross initial yield will be approximately 6.6%.
HAMBORNER REIT AG intends to continue its expansion in the asset classes of retail and office properties. The members of the Managing Board Dr. Rüdiger Mrotzek and Hans Richard Schmitz are delighted by the signing of this agreement. 'This investment and those in Hamburg and Tübingen show that we are keeping our promise to invest the funds raised by the capital increase quickly. We are highly confident that we will also have good news to report regarding the last property in the pipeline soon.'
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, 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.
End of Media Release
Issuer: HAMBORNER REIT AG
Key word(s): Enterprise
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|Company:||HAMBORNER REIT AG|
|Listed:||Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg, München, Stuttgart|
|End of News||DGAP-Media|