DGAP-News: Fair Value REIT-AG: Profitable sale of a Berlin office property from the participation Portfolio
(firmenpresse) - DGAP-News: Fair Value REIT-AG / Key word(s): Real Estate/Disposal
Fair Value REIT-AG: Profitable sale of a Berlin office property from
the participation Portfolio
15.10.2013 / 07:52
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- Transaction volume in 2013 totals 6% of the portfolio
- Average IFRS capital gain before costs of 5%
Munich, October 15, 2013 - Fair Value REIT-AG reports the successful sale
of a Berlin office building from its participation portfolio to a Spanish
investor.
The building located in Berlin-Charlottenburg with lettable space of
approximately 9,800 sqm and around 180 parking spaces is fully let. The
remaining terms of the lease agreements are around 2.5 years. The agreed
purchase price of EUR 15.6 million is 3% higher than the carrying amount as
of December 31, 2012. The property is being sold by the associated company
'BBV 14', in which Fair Value REIT-AG holds an interest of around 45%.
Frank Schaich, CEO of Fair Value REIT-AG, comments on the transaction and
the property sales realised up to now in the current financial year: 'With
the sale reported today, the transaction volume in the current financial
year attributable to Fair Value totals EUR 12.7 million or 6% of our
proportional portfolio as of December 31, 2012. As part of this, we have
achieved an average IFRS capital gain before costs of around 5%. The sales
volume up to this point has been in line with our corporate planning and
stems 30% from directly-held properties and 70% from properties held by
participations.'
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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15.10.2013 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.deInternet: 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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234615 15.10.2013
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Unternehmensinformation / Kurzprofil:
Datum: 15.10.2013 - 07:52 Uhr
Sprache: Deutsch
News-ID 305550
Anzahl Zeichen: 4659
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Kategorie:
Business News
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