HAMBORNER REIT AG - Successful implementation of strategy with acquisition and sales activities in Berlin
Duisburg, 25 April 2014 - HAMBORNER REIT AG is continuing the successful implementation of its strategy of buying larger properties while at the same time selling smaller properties no longer consistent with the strategy.
For example, the company has just signed a purchase agreement for the "T-Damm Center" in Berlin, which is currently still under development. The property at Tempelhofer Damm 198/200 will have a rental area of around 6,000 square metres. After being let in full, annual rental income will amount to around EUR1.2 million. The property is currently approximately 70% pre-let. Its main tenants are the retailers Kaiser's, Rossmann and Aldi. Completion of the "T-Damm Center" is planned for the second half of 2015. With a purchase price after full letting of around EUR19 million, the gross initial yield will be 6.3%. The property is being sold by A&F Grundbesitz Tempelhofer Damm GmbH, a property company owned by the project development firm Dr. Aldinger & Fischer, Berlin. The transaction was brokered by Wrangel Real Estate Consulting & Investment, Grünwald.
Furthermore, HAMBORNER has sold a smaller shop building no longer consistent with strategy at Schlossstrasse 23, also in Berlin. The property, which has a rental area of around 540 square metres and annual rental income of around EUR230,000, has been owned by the company since 1995. The sale price is around EUR4.9 million (factor of 21.3). The buyer is Brenog Berlin GmbH Ijzendoorn Einzelhandelsimmobilien II & Co. KG. The broker was COMFORT Berlin-Leipzig GmbH. Ownership is expected to transfer in the second half of 2014.
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.
End of Media Release
Issuer: HAMBORNER REIT AG
Key word(s): Real estate
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|Company:||HAMBORNER REIT AG|
|Listed:||Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Hannover, München, Stuttgart|
|End of News||DGAP-Media|