DGAP-News: HAMBORNER REIT AG / Key word(s): Disposal/Real Estate
HAMBORNER REIT AG reports further success in disposal operations and reduces portfolio share of high street properties
Duisburg, 17 December 2020 - HAMBORNER REIT AG is systematically continuing its portfolio optimisation by gradually selling off retail properties in city centre locations, and can report the disposal of further properties in conjunction with several transactions.
After selling two properties in Osnabrück and Oldenburg that were no longer consistent with strategy in the third quarter of 2020, in the last few weeks the company has signed contracts to sell a total of nine other - predominantly smaller - high street stores. These properties are located in Frankfurt, Wiesbaden, Augsburg, Kaiserslautern, Koblenz, Rheine, Krefeld, Oberhausen and Lüdenscheid.
Including the properties already sold in the third quarter, the sales prices amount to around €59.1 million in total, approximately 2% more than the market value of the eleven properties as at 30 June 2020. The annualised total rent of the properties last amounted to around €3.9 million. The disposals will lead to a positive effect on earnings of around €23.8 million. Ownership of the property in Osnabrück was transferred on 1 September 2020. The other properties are expected to be transferred to their institutional and private buyers in the first quarter of 2021.
Given the acceleration on the transaction markets and the continued intensity of marketing activities, the company is confident of further successful disposals in the months ahead and of further reducing the share of high street properties in the portfolio as a whole. HAMBORNER is also examining various acquisition options on an ongoing basis in order to gradually reinvest the proceeds from the disposals.
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 €1.6 billion. The portfolio focuses on modern office properties as well as local supply properties as large-scale retail assets, retail parks, DIY stores and attractive high street properties 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 sustainable dividend policy 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.
17.12.2020 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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