HAMBORNER REIT AG: Transfer of possession of Kurpfalz-Center in Mannheim on 1 October 2016
Duisburg, 30 September 2016 - After the successful completion of the capital increase by HAMBORNER REIT AG this week with gross proceeds of EUR166.5 million, the company is consistently continuing its growth course. The purchase agreement for the "DOMI" commercial building in Dortmund's city centre was signed on 28 September 2016. While this property is expected to be transferred to the HAMBORNER portfolio at the end of the year, the Kurpfalz-Center in Mannheim - acquired in August 2016 - will be contributing to the company's rental income and FFO from 1 October 2016. The retail centre is being transferred to HAMBORNER following payment of the purchase price of EUR80 million from existing liquidity. With a gross initial yield of 5.1%, annual rental income amounts to EUR4.1 million.
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.
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End of Media Release
Issuer: HAMBORNER REIT AG
Key word(s): Real estate
2016-09-30 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|