The VIB Vermögen AG, a real estate company specialising in commercial real estate, has expanded its portfolio by three new investments amounting to a total capital expenditure of EUR 26m and offering additional lettable area of around 27,400 m². Ranking among the acquisitions are a shopping arcade in Lauf and a logistics centre in Mitterteich that is presently being built. Furthermore, the company acquired an attractive piece of land in Frankfurt am Main, which is shortly to be developed. In addition, the construction of a logistics property has now been completed on a piece of land that was acquired in Herten in summer. The delivery of the property took place on 3rd December 2007.
As such, the portfolio of the VIB Vermögen AG has increased to a total of 43 properties with a current lettable area of over 377,000 m². Ludwig Schlosser, CEO of the VIB Vermögen AG, sees the company as being in an excellent position with its most recent acquisitions: "The acquisitions have enabled us to strengthen our market position yet again. We are on the right path towards becoming the leading listed real estate company for commercial real estate in the south of Germany."
Among the above-mentioned investments are the Gramp Arcades in Lauf (Nürnberger Land), which the VIB Vermögen AG acquired for a total of around EUR 6.6m. The property, which is fully let, has a rentable area of 3,227 m². The company will receive annual net rentals from the property amounting to approximately EUR 472,000.
The company further acquired a logistics centre that is presently being built in Mitterteich in the Oberpfalz/Bavaria for a purchase price of EUR 5.9m including the acquisition costs. The property, which is within easy access of the main routes between Nuremberg and Prague, has a lettable area of 10,500 m² and is to be completed by the end of March 2008. The annual rental yield from the property will amount to EUR 447,000.
In addition, on Monday, 3rd December 2007, a logistics facility in Herten near Recklinghausen was delivered to the tenant, a sanitary wholesaler, who will be using the property, which has a rentable area of 8,670 m², as a distributing warehouse. The company expects to achieve an annual rental income of EUR 559,000 on total capital expenditure amounting to approximately EUR 6.7m.
The construction of a logistics centre has been planned for the newly acquired piece of land in Frankfurt am Main. On completion, the property will have a lettable area of 13,650 m² and will generate an annual net rental of around EUR 1.08m for the VIB Vermögen AG. The company anticipates total capital expenditure to amount to around EUR 13.5m. The property, which is situated in the area in Frankfurt am Main known as the "Am Martinszehnten", is expected to be completed between July and September 2008.
The average yield on these recent investments made by the VIB Vermögen AG will amount to 7.8%.
As such, the portfolio of the VIB Vermögen AG has increased to a total of 43 properties with a current lettable area of over 377,000 m². Ludwig Schlosser, CEO of the VIB Vermögen AG, sees the company as being in an excellent position with its most recent acquisitions: "The acquisitions have enabled us to strengthen our market position yet again. We are on the right path towards becoming the leading listed real estate company for commercial real estate in the south of Germany."
Among the above-mentioned investments are the Gramp Arcades in Lauf (Nürnberger Land), which the VIB Vermögen AG acquired for a total of around EUR 6.6m. The property, which is fully let, has a rentable area of 3,227 m². The company will receive annual net rentals from the property amounting to approximately EUR 472,000.
The company further acquired a logistics centre that is presently being built in Mitterteich in the Oberpfalz/Bavaria for a purchase price of EUR 5.9m including the acquisition costs. The property, which is within easy access of the main routes between Nuremberg and Prague, has a lettable area of 10,500 m² and is to be completed by the end of March 2008. The annual rental yield from the property will amount to EUR 447,000.
In addition, on Monday, 3rd December 2007, a logistics facility in Herten near Recklinghausen was delivered to the tenant, a sanitary wholesaler, who will be using the property, which has a rentable area of 8,670 m², as a distributing warehouse. The company expects to achieve an annual rental income of EUR 559,000 on total capital expenditure amounting to approximately EUR 6.7m.
The construction of a logistics centre has been planned for the newly acquired piece of land in Frankfurt am Main. On completion, the property will have a lettable area of 13,650 m² and will generate an annual net rental of around EUR 1.08m for the VIB Vermögen AG. The company anticipates total capital expenditure to amount to around EUR 13.5m. The property, which is situated in the area in Frankfurt am Main known as the "Am Martinszehnten", is expected to be completed between July and September 2008.
The average yield on these recent investments made by the VIB Vermögen AG will amount to 7.8%.
