DGAP-News: Fair Value REIT-AG: Fair Value REIT-AG sells two more properties at a profit
(firmenpresse) - DGAP-News: Fair Value REIT-AG / Key word(s): Real Estate/Disposal
Fair Value REIT-AG: Fair Value REIT-AG sells two more properties at a
profit
01.10.2013 / 07:30
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Munich, October 1, 2013 - Fair Value REIT-AG has sold two properties from
its directly held portfolio to private investors effective as of the end of
October 2013. The two properties in question, located in the town of
Uetersen and in Kölln-Reisiek close to the city of Elmshorn (both in the
Pinneberg district), are both primarily used as bank branches.
The premises in Uetersen with a floor area of around 1,700 m2 are fully let
for use as bank, two apartments and a doctor's office. The leases have
around ten years left to run. The agreed purchase price of EUR 1.9 million
is 5% above the book value as of December 31, 2012.
The bank building in Kölln-Reisiek with a floor area of 168 m2 is let for
over four years with options to renew. The agreed purchase price of around
EUR 0.2 million is 11% above the book value as of December 31, 2012.
Commenting on the disposals, Frank Schaich, CEO of Fair Value REIT-AG,
said: 'We are systematically tapping the current demand among investors to
optimise the real estate in our directly-held and participation portfolios.
The latest sales involve the smallest property currently in our portfolio,
as well as a property specifically fitted out for use primarily as a bank.'
Contact
Fair Value REIT-AG
Frank Schaich
Tel. +49 (0) 89-9292815-10
Fax. +49 (0) 89-9292815-15
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 June 30, 2013, Fair Value's share of the total portfolio amounted to
around EUR 211 million. This portfolio had an occupancy rate of 94.6% of
the achievable rents at full occupancy of EUR 18.9 million per annum. As of
June 30, 2013, the weighted remaining term of the leases was 5.6 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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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: A0MW97
Indices: 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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232728 01.10.2013
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Unternehmensinformation / Kurzprofil:
Datum: 01.10.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 301393
Anzahl Zeichen: 4629
contact information:
Kategorie:
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