24.11.2015
Fair Value REIT-AG DE000A0MW975
DGAP-News: Fair Value REIT-AG sells four properties in Schleswig-Holstein above book
DGAP-News: Fair Value REIT-AG / Key word(s): Disposal/Real Estate
Fair Value REIT-AG sells four properties in Schleswig-Holstein above
book
24.11.2015 / 07:30
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Fair Value REIT-AG sells four properties in Schleswig-Holstein above book
value
Munich, 24 November 2015 - Fair Value REIT-AG (WKN A0MW97) continues its
portfolio concentration and sold four properties at a profit, which no
longer fitted into the core portfolio. The properties are located in
Ellerbek, Leezen, Norderstedt and Quickborn and have been acquired by
different private investors. The disposals generated total sales proceeds
of approx. 3.78m EUR, which is 6% above the IFRS book values. The
transactions are expected to close in December 2015.
Frank Schaich, CEO of Fair Value REIT-AG, comments on the transactions: "We
continue our strategic portfolio adjustment and, in this regard, benefit
from the demand for disposals of small to medium sized properties at prices
that are noticeably above the book value. In line with the corporate
strategy, we will use the sales proceeds to turn indirectly held properties
into direct ownership."
Contact
Fair Value REIT-AG
Frank Schaich
Tel. 089-9292815-10
Fax. 089-9292815-15
e-mail: [email protected]
Additional information of sold properties:
Location Address Lettable area Sales price
Ellerbek 1) Pinneberger Strasse 155 356 sqm 350.000 EUR
Leezen Hamburger Strasse 40 174 sqm 182.000 EUR
Norderstedt 1) Ulzburger Strasse 363 d/e 1.340 sqm 1.600.000 EUR
Quickborn Kieler Strasse 100 1.309 sqm 1.650.000 EUR
1) Partial ownership
Company profile
Fair Value REIT-AG, based in Munich, focuses on retail and office
properties in German secondary locations as well as on real estate holdings
with a special emphasis on closed end funds.
As of 30 September 2015, Fair Value's total portfolio of 44 properties had
a market value of EUR 305.6 million. This portfolio had an occupancy rate
of 91.8% of potential rent on full occupancy of EUR 27.4 million per year.
As of 30 September 2015 the weighted remaining term of the leases was 4.6
years. Around 57% of the potential rent relates to retail space, 33% to
office space and 10% to other types of use.
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The issuer is solely responsible for the content of this announcement.
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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: [email protected]
Internet: www.fvreit.de
ISIN: DE000A0MW975
WKN: A0MW97
Indices: RX REIT All Share Index, RX REIT Index
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
End of News DGAP News Service
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