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DGAP-News: HAMBORNER REIT AG / Key word(s): Real Estate/Acquisition
HAMBORNER REIT AG expands its portfolio with modern DIY store in Freiburg and sells high-street retail property in Dortmund
Duisburg, 5 October 2021 - HAMBORNER REIT AG has signed the purchase agreement for a large-scale retail property in Freiburg.
The property acquired is a DIY store with a garden centre built in 2018 and located in the established "Freiburg-Haid" business park. It is conveniently and centrally located in a prominent spot.
The tenant of the roughly 10,700 m² property is the OBI Group, which has made a long-term commitment to the site with a lease contract running until 2033. The purchase price of the property is approximately €18.9 million. With annual net rental income of approximately €1.1 million, the gross initial yield is around 5.6%. The property is expected to be transferred to the HAMBORNER portfolio in the first quarter of 2022, giving the company three properties at the promising Freiburg location.
HAMBORNER has also continued its sales activities in recent weeks, selling another high-street retail property - the "DOMI" - in Dortmund, which recently contributed about €1.7 million to annual rental income. The selling price is in line with the most recently determined fair value. Systematically continuing the portfolio rotation that begun last year the company reduced the share of high-street retail properties to just 3.5% of the total portfolio volume, with the majority of assets intended for short-term disposal already having been sold.
ABOUT HAMBORNER REIT AG
HAMBORNER REIT AG is a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around €1.5 billion. The portfolio focuses on modern office properties at established locations as well as attractive local supply properties as large-scale retail assets, retail parks and DIY stores in major German cities and mid-sized centres.
HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainably attractive dividend strategy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.
05.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
HAMBORNER REIT AG
Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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