DGAP-News: VIB Vermögen AG further expands real estate portfolio
(firmenpresse) - DGAP-News: VIB Vermögen AG / Key word(s): Real Estate
VIB Vermögen AG further expands real estate portfolio
02.08.2011 / 07:30
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- Total investment volume of around EUR 32.6 million
- Annualised net rental income after completion totals EUR 2.6 million
- Average 8.0% rental yield on all properties
Neuburg/Danube, August 2, 2011 - Having successfully concluded its capital
increase, VIB Vermögen AG, a company specialising in commercial real estate
portfolio management, is investing in high-yielding properties with a total
volume of initially EUR 32.6 million.
The company is developing a production and logistics centre in Ingolstadt
with a total rentable space of approximately 22,300 m², and entailing an
investment volume of around EUR 24 million. A company has been founded in
order to realise the project in which VIB Vermögen AG holds a 75% majority
interest, and in which a subsidiary of the city of Ingolstadt holds a 25%
interest.
Furthermore, a logistics property in Ingolstadt-Grossmehring, which the
company developed itself, has meanwhile been handed over to its tenant.
This property entailed initial costs of EUR 2.6 million. Rental contracts
have already been signed for two further properties, and construction work
is underway to the tune of EUR 6.0 million of investment volume. One
property entails the construction of a logistics property on an existing
plot of land in Baunatal near Kassel. The second property involves the
creation of a logistics plant in Neuburg/Donau.
The total rental income that will be achieved after the properties have
been created amounts to approximately EUR 2.6 million. The rental
agreements are largely long-term, and result in an average rental yield of
8.0%. The additional rental space will amount to approximately 36,000 m²,
and expand the total space of the real estate portfolio to almost 691,000
m².
Peter Schropp, the Management Board member responsible for the real estate
sector, regards the VIB Group's revenue base as having been sustainably
strengthened: 'These transactions allow us to fulfil our commitment of
reinvesting issue proceeds from the capital increase as rapidly as
possible. We aim to continue to sustainably strengthen our real estate
portfolio through selective and targeted acquisitions in the future. Ludwig
Schlosser, CEO of VIB Vermögen AG, added: 'Above and beyond the investments
that have now been specifically processed in contractual terms, we are now
engaged in very specific negotiations for further investments entailing at
least EUR 25 million.'
Profile of VIB Vermögen AG
VIB Vermögen AG (WKN 245751 / ISIN DE0002457512) is a medium-sized real
estate holding company, whose investments focus on commercial properties in
Southern Germany. Formed as a partnership in 1993, VIB Vermögen AG was
transformed to become an Aktiengesellschaft (German public limited company)
in 2000. Since then, the company has developed core competences in the
acquisition and management of its own properties and participating
interests in companies with real estate portfolios.
The VIB Group pursues a buy-and-hold strategy. It both develops properties
for its own portfolio and also acquires existing properties. The VIB
Group's real estate portfolio includes various logistics properties and
industrial facilities, shopping and specialist retail centers as well as
commercial and service centers.
End of Corporate News
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Language: English
Company: VIB Vermögen AG
Luitpoldstraße C 70
86633 Neuburg/Donau
Germany
Phone: +49 (0)8431 / 504-952
Fax: +49 (0)8431 / 504-973
E-mail: petra.riechert(at)vib-ag.de
Internet: www.vib-ag.de
ISIN: DE0002457512
WKN: 245751
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart; Open Market in Frankfurt
End of News DGAP News-Service
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133980 02.08.2011
Datum: 02.08.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 40446
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Kategorie:
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