11.11.2016
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DGAP-Adhoc: WCM Beteiligungs- und Grundbesitz-AG: WCM acquires further retail portfolio for EUR 98.2 million
WCM Beteiligungs- und Grundbesitz-AG / Key word(s): Acquisition
11.11.2016 00:44
Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc according to Article 17 MAR
WCM acquires further retail portfolio for EUR 98.2 million
Frankfurt am Main, 11 November 2016 - WCM Beteiligungs- und Grundbesitz-AG
(WCM AG, ISIN: DE000A1X3X33) further expands its asset base through the
acquisition of a retail portfolio. In the federal states of Baden-
Wuertemberg and Saxony-Anhalt three retail centres were acquired with a
total rental space of 88,000 square metres for a net purchase price of EUR
98.2 million. With an EPRA vacancy rate of 7 percent the newly acquired
portfolio generates annualised rental income of around EUR 7.6 million. The
implied gross initial yield is 7.7 percent. Anchor tenant on all three
locations is a leading food retail chain. The weighted average lease time
(WALT) for the anchor tenant stands at 6.1 years, for the newly acquired
portfolio at a total WALT of 5.6 years. The acquisition is planned to be
financed via a combination of existing cash and mortgage lending. The Funds
from Operations (FFO) amounts to around EUR 4.2 million. The closing is
expected within the first quarter 2017.
Acquisition increasing EPRA NAV and FFO significantly
With this acquisition WCM increases the pro forma portfolio value to around
EUR 766 million with an annualised rental income of EUR 46.0 million and an
annualized FFO I of around EUR 25.5 million. The weighted average lease
time (WALT) of WCM's pro forma portfolio amounts to 8.5 years with an EPRA
vacancy rate of 4.7%. Including the acquisition announced by press release
on 27 September 2016, which is expected to close this year and the
announced acquisition today, the management of WCM expects the EPRA NAV/
share to rise to a minimum of EUR 2.85. The pro forma average cost of debt
is anticipated to be below 2.0% with an average remaining maturity of over
6 years.
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Information and Explanation of the Issuer to this News:
About WCM
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 acquisition of properties as well as on value-creating
asset management, in order to generate attractive long-term rental income
and a steady cash flow. The portfolio has a gross asset value of clearly
more than EUR 700 million. The company has extensive loss carry forwards in
corporate and commercial tax. Shares of WCM AG are listed in the SDAX of
Deutsche Boerse since 21 December 2015.
Contact
Gunnar Janssen
Investor Relations
WCM Beteiligungs- und Grundbesitz-AG
Bleichstr. 64-66
60313 Frankfurt am Main
Telephone +49 69 963 7319 10
Email [email protected]
www.wcm.de
11.11.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: WCM Beteiligungs- und 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 Frankfurt (Prime Standard), Hamburg,
Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf,
Hanover, Munich, Tradegate Exchange
End of Announcement DGAP News-Service
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