DGAP-News: Fair Value REIT-AG: Fair Value REIT-AG announces profitable sale of three properties
(firmenpresse) - DGAP-News: Fair Value REIT-AG / Key word(s): Real Estate/Disposal
Fair Value REIT-AG: Fair Value REIT-AG announces profitable sale of
three properties
29.04.2013 / 09:37
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Munich, April 29, 2013 - Fair Value REIT-AG has sold two bank buildings
from its direct holdings in Boostedt (Segeberg district) and on the island
of Helgoland (Pinneberg district) to private investors. A Fair Value Group
subsidiary has also sold a retail property located in Emmerich on the river
Rhine (Kleve district) to a developer that plans to construct a new
building once the current rental agreement expires in October 2013.
The purchase prices that have been agreed for the three properties, which
have a total rentable area of around 2,000 m², total EUR 1.5 million, 11%
above their surveyed market values as of December 31, 2012.
Frank Schaich, CEO of Fair Value REIT-AG, commented on the disposals as
follows: 'Part of our strategy is to sell smaller portfolio properties as
part of portfolio management. The fact that we again achieved proceeds
significantly above book values with these most recent property sales
refelects our real estate portfolio's value-retention. It also shows that
regional locations are interesting for a number of investors if the
micro-location is right, and the properties carry corresponding potential.'
Contact
Fair Value REIT-AG
Frank Schaich
Tel. 089-9292815-10
Fax. 089-9292815-15
e-mail: schaich(at)fvreit.de
Corporate Profile
Fair Value REIT-AG, based in Munich, focuses on the acquisition, leasing,
property management and sale of commercial properties in Germany. At the
core of its investment activities are office and retail properties in
German regional centres
As of December 31, 2012, Fair Value's share of the total portfolio amounted
to around EUR 213 million. This portfolio had an occupancy rate of 94.4% of
the achievable rents at full occupancy of EUR 18.9 million per annum. As of
December 31, 2012, the weighted remaining term of the leases was 5.7 years.
Around 43% of the potential rent relates to retail floor space, 42% to
office space and 15% to other types of use.
End of Corporate News
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29.04.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Fair Value REIT-AG
Leopoldstraße 244
80807 München
Germany
Phone: +49 (0)89 9292 815-01
Fax: +49 (0)89 9292 815-15
E-mail: info(at)fvreit.de
Internet: www.fvreit.de
ISIN: DE000A0MW975
WKN: A0MW97Indices: RX REIT All Share Index, RX REIT Index
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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208852 29.04.2013
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Unternehmensinformation / Kurzprofil:
Datum: 29.04.2013 - 09:37 Uhr
Sprache: Deutsch
News-ID 253648
Anzahl Zeichen: 4687
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Kategorie:
Business News
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