HAMBORNER REIT AG / Key word(s): Enterprise/
HAMBORNER REIT AG expanding further - Agreement signed for DIY store
in Aachen
DGAP-Media / 17.06.2011 / 10:16
Press Release
HAMBORNER REIT AG expanding further - Agreement signed for DIY store in
Aachen
Duisburg, 17 June 2011 - As previously announced, HAMBORNER REIT AG is
expanding further. After the purchase agreement for a retail property in
Langenfeld was signed only at the end of May, the company can now reveal
the acquisition of an OBI DIY store. The approximately 11,400 m² property,
which is still under construction and scheduled for completion in 2012, is
located in a business area of the Brand district, roughly 5 km to the
south-east of the centre of Aachen. OBI has maintained a presence at the
Aachen-Brand location for around 20 years but is now leaving its current
store to relocate to this new and more attractive site. Confidentiality was
agreed on the purchase prices.
The seller is a project company of the Schoofs Group from Kevelaer, a
developer for retail parks, DIY stores and discount supermarkets. The gross
yield is approximately 7.5%.
In acquiring this property in Aachen, HAMBORNER has already signed purchase
agreements for around EUR33 million this year. Four properties with a total
value of approximately EUR58 million have also been added to the books in
2011. Further purchases are being examined.
As part of the targeted portfolio optimisation, HAMBORNER also sold a
smaller property in Krefeld for EUR900 thousand. This was a property which
was no longer in line with company strategy.
The company still intends to grow in the three asset classes of large-area
retail, office and high street, and plans to achieve a total portfolio
value of around EUR500 million by the end of 2011 (currently around EUR435
million).
About HAMBORNER REIT AG
HAMBORNER REIT AG is a public limited company listed on the stock exchange
which today works exclusively in the real estate sector and occupies a
position as a portfolio holder for high-yield commercial properties. The
basis of the company''s sustainable rental income is a substantial real
estate portfolio that is spread throughout the country. The main focus of
the portfolio consists of attractive retail space in central city centre
locations in Germany and resources centres. Furthermore, the property
portfolio comprises highly frequented specialist stores and profitable
office buildings, as well as doctors'' surgeries, apartments and car parks.
Additionally, the company possesses around 2.4 million m² of undeveloped
land, which is mainly located in the north of Duisburg and the neighbouring
local authority districts of Dinslaken and Hünxe.
The outstanding features of HAMBORNER REIT AG are its many years of
experience in the real estate and capital market, its lean and transparent
corporate structure and its particular proximity to the tenants. The
company is a registered Real Estate Investment Trust (REIT) and benefits at
the company level from exemption from corporation and trade tax.
Press contact:
Sybille Albeser
Tel.: +49 (0)203 54405-32
Fax: +49 (0)203 54405-49
E-Mail: s.albeser@hamborner.de
Web: www.hamborner.de
End of Media Release
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Language: English
Company: HAMBORNER REIT AG
Goethestraße 45
47166 Duisburg
Deutschland
Phone: 0203/54405-0
Fax: 0203/54405-49
E-mail: info@hamborner.de
Internet: www.hamborner.de
ISIN: DE0006013006
WKN: 601300
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München, Stuttgart
End of News DGAP-Media
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128942 17.06.2011
(END) Dow Jones Newswires
June 17, 2011 04:17 ET (08:17 GMT)