HAMBORNER REIT AG signs purchase agreement for "Market Oberfranken" in Hallstadt/Bamberg
Duisburg, 9 February 2017 - After the acquisition of a retail centre in Berlin last week, HAMBORNER REIT AG is announcing the signing of another purchase contract. The company yesterday notarised the purchase agreement for the "Market Oberfranken" retail centre in Hallstadt.
The modern property with a rental area of around 21,800 square metres is located in a well-established commercial area in the Upper Franconian municipality of Hallstadt, around 5 km from the centre of the city of Bamberg. The location benefits not only from its direct proximity to Bamberg, but also from a fast-growing catchment area beyond the local region and its good transport connections. The main tenants of the property include the drugstore chain Müller, Opti Wohnwelt, tegut, C&A and Expert. The weighted remaining term of leases is around 8 years. Annual rental income will amount to EUR2.5 million. The purchase price amounts to EUR40.5 million. In consideration of required tenant improvements of approximately EUR3.2 million, gross initial yield is 5.7%. The Transfer of possession is expected to take place at the end of the first quarter of 2017. The seller of the property is a fund, managed by GLL Real Estate Partners GmbH. JLL advised during the transaction process.
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
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Issuer: HAMBORNER REIT AG
Key word(s): Real estate
|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|