The VIB Vermögen AG, a real estate company specialised in commercial real estate, has expanded its portfolio considerably since the end of May by the addition of five new investments. These comprise two new properties and, in addition, two pieces of land which are shortly to be developed and also a piece of land that is being held as a financial investment. The investments are situated in Bavaria and North Rhine-Westphalia, and also in the Czech Republic. These most recent acquisitions of the VIB Vermögen AG are being financed through approx. 30% equity and around 70% loan capital.
Logistics plants will be built on both of the recently acquired pieces of land. In this respect, a distributing warehouse with a lettable area of 8,670 m² will be built in Herten near Recklinghausen for the future tenant, a nationally-operating wholesaler for sanitary equipment. Completion of the property, and thus the transfer into the holding portfolio of the VIB Vermögen AG, is planned for this year. The total investment for the piece of land under development will amount to around EUR 6.5m. The second piece of land to be developed is situated in the eastern part of Upper Bavaria. A tenancy agreement has already been signed for the logistics plant that will be completed on the piece of land by the middle of next year.
The tenant is a renowned logistics company. The investment costs and the effective area of the building depend on whether an option to extend the building is taken up. Should this be the case, the total investment with regard to an effective area of approx. 38,000m² will amount to around EUR 18.5m and otherwise EUR 14.0m for a lettable area of about 28,000m².
Furthermore, the VIB Vermögen AG has been able to secure a piece of land, which is being held as a financial investment, in the Czech Republic with excellent infrastructure connections. Comprising an area of 140,000m², this piece of land is ideal for the development of a large logistics property. It is situated between the German-Czech Republic border and the town of Pilsen, in the immediate vicinity of a motorway exit.
The VIB Vermögen AG has also acquired two new properties. In Neumarkt the company acquired a Burger King fast food restaurant with a purchase price including ancillary acquisition costs of around EUR 1.5m. In addition, the company acquired an office and production building in Schwabmünchen for a purchase price of around EUR 3.2m. The tenant of this property is a medical engineering company. With these new investments, the VIB Vermögen AG maintains its leading position as a strong-yield real estate holding company.
The total amount invested, not including the piece of land in the Czech Republic, amounts to around EUR 30m.
The VIB Vermögen AG has reacted well in time to the rise in interest over the past few months and has thus pegged 87% of its loans. The average rate of interest of all bank liabilities is 4.75%.
Logistics plants will be built on both of the recently acquired pieces of land. In this respect, a distributing warehouse with a lettable area of 8,670 m² will be built in Herten near Recklinghausen for the future tenant, a nationally-operating wholesaler for sanitary equipment. Completion of the property, and thus the transfer into the holding portfolio of the VIB Vermögen AG, is planned for this year. The total investment for the piece of land under development will amount to around EUR 6.5m. The second piece of land to be developed is situated in the eastern part of Upper Bavaria. A tenancy agreement has already been signed for the logistics plant that will be completed on the piece of land by the middle of next year.
The tenant is a renowned logistics company. The investment costs and the effective area of the building depend on whether an option to extend the building is taken up. Should this be the case, the total investment with regard to an effective area of approx. 38,000m² will amount to around EUR 18.5m and otherwise EUR 14.0m for a lettable area of about 28,000m².
Furthermore, the VIB Vermögen AG has been able to secure a piece of land, which is being held as a financial investment, in the Czech Republic with excellent infrastructure connections. Comprising an area of 140,000m², this piece of land is ideal for the development of a large logistics property. It is situated between the German-Czech Republic border and the town of Pilsen, in the immediate vicinity of a motorway exit.
The VIB Vermögen AG has also acquired two new properties. In Neumarkt the company acquired a Burger King fast food restaurant with a purchase price including ancillary acquisition costs of around EUR 1.5m. In addition, the company acquired an office and production building in Schwabmünchen for a purchase price of around EUR 3.2m. The tenant of this property is a medical engineering company. With these new investments, the VIB Vermögen AG maintains its leading position as a strong-yield real estate holding company.
The total amount invested, not including the piece of land in the Czech Republic, amounts to around EUR 30m.
The VIB Vermögen AG has reacted well in time to the rise in interest over the past few months and has thus pegged 87% of its loans. The average rate of interest of all bank liabilities is 4.75%.
