18.12.2015
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DGAP-News: WCM Beteiligungs- und Grundbesitz-AG: WCM secures acquisition of two retail parks and exclusivity to purchase a DIY store for around EUR 48 million in total
DGAP-News: WCM Beteiligungs- und Grundbesitz-AG / Key word(s): Real Estate
WCM Beteiligungs- und Grundbesitz-AG: WCM secures acquisition of two retail
parks and exclusivity to purchase a DIY store for around EUR 48 million in
total
18.12.2015 / 13:34
The issuer is solely responsible for the content of this announcement.
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WCM secures acquisition of two retail parks and exclusivity to purchase a
DIY store for around EUR 48 million in total
- High-profile anchor tenants already agreed for retail parks prior to
completion
- Retail parks expected to be completed in Q3 and Q4, with closing in H2
2016
- Closing of DIY store transaction scheduled for the end of February 2016
- Average rental yield of 6.8 percent and initial FFO yield of c. 11
percent with LTV of 55 percent
- Financing of equity from available funds
Frankfurt, 18 December 2015 - WCM Beteiligungs- und Grundbesitz-AG (WCM AG,
ISIN:DE000A1X3X33) today announced that it has secured through notarization
the purchase of two retail parks in line with its acquisition strategy. The
assets in the Berlin area and Saxony-Anhalt are currently under
construction and will be handed over by the third and fourth quarters of
2016 after construction works have been finalized. Food retailers REWE and
ALDI will be anchor tenants in both properties. The transactions are
expected to close in the third and fourth quarters of 2016, respectively.
The purchase price for the two retail parks is EUR 25.8 million. The
properties will have a total rental space of 13,660 square metres. On their
completion, both properties will be fully let and generate an aggregated
rental income of approximately EUR 1.7 million. Based on the net purchase
price, the rental yield is 6.5 percent. The leases will have an average
length of 12.4 years.
In addition, WCM AG has been granted exclusivity to purchase one more DIY
store. The property, which was built in 2012, is in an attractive location
in one of Germany's strongest economic regions and will be let to a leading
DIY retailer for 15 years. The projected purchase price is EUR 22.0 million
and will generate a rental income of roughly EUR 1.6 million on an
annualised basis, which represents an initial return of 7.1 percent.
Closing of the 13,500 square metres DIY store is expected at the end of
February 2016.
WCM AG's most recent capital increase gives it sufficient funds to finance
the equity portion of all three acquisitions. WCM AG intends to finance all
assets with an average LTV of c. 55 percent, representing an average FFO
yield of c. 11 percent.
About WCM AG
WCM Beteiligungs- und Grundbesitz-AG (WCM AG), with headquarters in
Frankfurt am Main, is a specialised commercial real estate company. As a
real estate proprietor, the focus is on long-term rental of high-quality
office and retail properties in the major office locations in Germany.
Since the operational restart in 2014, WCM AG has focused on an extensive
network for the purchase of properties as well as on value-creating asset
management, in order to generate attractive long-term rental income and a
steady cash flow. At October 2015, the property portfolio comprised of more
than EUR 500 million (including contractually secured assets). The company
has extensive loss carry forwards in corporate and commercial tax. Shares
in WCM AG will be listed in the SDAX of Deutsche from 21st of December
onwards.
Press contact:
edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
+49 (0) 69-905505-51
[email protected]
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18.12.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: WCM Beteiligungsund Grundbesitz-AG
Bleichstr. 64-66
60313 Frankfurt am Main
Germany
Phone: +49 (0)30 8870 476-10
Fax: +49 (0)30 8870 476-20
E-mail: [email protected]
Internet: www.wcm.de
ISIN: DE000A1X3X33
WKN: A1X3X33
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Stuttgart; Regulated Unofficial Market
in Munich
End of News DGAP News Service
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