EANS-News: Fair Value REIT-AG
Fair Value REIT-AG sells three bank branch
buildings at a profit
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Contracts/Sale of Real Estate München (euro adhoc) - Fair Value REIT-AG sells three bank branch buildings at a profit Munich, July 31, 2012 - Fair Value REIT-AG has sold three properties leased to Sparkasse Südholstein for a total of around EUR 1.8 million. Two of the properties are located in Halstenbek (Pinneberg county), with the third in Nahe (Segeberg county). The proceeds from the sale of the properties are on average 7% higher than the market values calculated by experts as of December 31, 2011. Frank Schaich, CEO of Fair Value REIT-AG, explains the three transactions: "Our strategy includes making the most of market cycles with high demand for real estate in order to sell smaller portfolio properties. The fact that our latest sales in Schleswig-Holstein were concluded at substantially higher prices than the carrying amounts underlines the ability of our portfolio properties to retain their value." Contact HYPERLINK "mailto:Fair"Fair Value REIT-AG Frank Schaich Tel. +49 (0) 89 9292815-10 Fax +49 (0) 89 9292815-15 e-mail: schaich@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 March 31, 2012, Fair Value's share of the total portfolio amounted to around EUR 222 million. This portfolio had an occupancy rate of 94.2% of the achievable rents at full occupancy of EUR 19.7 million per annum. As of March 31, 2012, the weighted remaining term of the leases was 5.8 years. Around 44% of the potential rent relates to retail floor space, 42% to office space and 14% to other facilities. Further inquiry note: {Fair}[HYPERLINK: mailto:Fair] Value REIT-AG Frank Schaich Tel. 089-9292815-10 Fax. 089-9292815-15 e-mail: schaich@fvreit.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: Fair Value REIT-AG Leopoldstraße 244 D-80807 München phone: +49 (0) 89 9292815 01 FAX: +49 (0) 89 9292815 15 mail: info@fvreit.de WWW: http://www.fvreit.de sector: Real Estate ISIN: DE000A0MW975 indexes: CDAX, Classic All Share, Prime All Share, RX REIT All Share Index, RX REIT Index stockmarkets: free trade: Berlin, München, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English
Original-Content von: Fair Value REIT-AG, übermittelt durch news aktuell