EANS-News: Fair Value REIT-AG
Fair Value REIT-AG sells two further bank buildings in Schleswig-Holstein at a
profit
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Contracts/Contracts/Real Estate
München (euro adhoc) - Fair Value REIT-AG has agreed to sell two bank buildings
to the north of Hamburg in Bönningstedt (Pinneberg county) and Ellerau (Segeberg
county) as of the transfer date December 31, 2012. Sparkasse Südholstein is the
only tenant of the two fully-rented properties. The agreed purchase prices of
EUR 0.25 million for Bönningstedt and EUR 0.48 million for Ellerau respectively
are in total around 8% higher than the market values determined by valuation
experts as of December 31, 2011.
Frank Schaich, CEO of Fair Value REIT-AG, commented on the sales: "As we
declared at the start of 2012, we are making the most of the tangible increase
in demand from investors by selling smaller properties as part of our portfolio
management efforts. Since then we have already sold six directly held bank and
business properties in Schleswig-Holstein, including the two transactions in
Bönningstedt and Ellerau, with a total volume of EUR 3.25 million. The fact that
the sale proceeds were in total eight percent higher than the market values
determined by valuation experts on the last balance sheet date underlines the
ability of our property portfolio to retain its value."
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 September 30, 2012, Fair Value's share of the total portfolio amounted to
around EUR 220 million. This portfolio had an occupancy rate of 95.1% of the
achievable rents at full occupancy of EUR 19.3 million per annum. As of
September 30, 2012, the weighted remaining term of the leases was 5.5 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
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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