HAMBORNER REIT AG signs purchase agreements for office properties in Aachen and Bonn
Duisburg, 25 October 2018 - In a competitive environment with strong demand for attractive commercial properties, HAMBORNER REIT AG is pleased to report another acquisition and the expansion of its portfolio for the future. The purchase agreement for two office properties in Aachen and Bonn was signed yesterday.
The properties acquired are two project developments set to get underway at attractive office locations in Aachen-Mitte and Bonn-Tannenbusch in the coming months. The two properties have a total rental area of approximately 14,400 square metres with variable partitioning options, half of which has been let to Barmer Krankenkasse. The purchase price for the properties is EUR51.6 million. With initial annual rental income of EUR2.7 million in total, the gross initial yield is around 5.2%. The purchase price will be paid, and the property transferred to Hamborner, immediately after completion of the properties and handover of the rental space to the tenant, which is expected to be in late 2019/early 2020.
The properties are being sold by a company of the project developer KPE in Wiesbaden, from which HAMBORNER already acquired an office property in Kiel last year. "We are delighted that, even on a fiercely contested acquisition market, we were once again able to use our good contacts with project developers to acquire two state-of-the-art office properties that satisfy our standards of quality and ideally supplement our portfolio," said the members of HAMBORNER's Management Board Dr Rüdiger Mrotzek and Hans Richard Schmitz.
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
End of Media Release
Issuer: HAMBORNER REIT AG
Key word(s): Real estate
25.10.2018 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
|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|