Further acquisition and portfolio optimisation for VIB Vermögen

Corporate news

Further acquisition and portfolio optimisation for VIB Vermögen

Neuburg/Danube, October 18, 2016 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, is adding another logistics centre to its property portfolio. The investment volume for the property amounts to approximately EUR 21.9 million, with an initial yield of 8.7 per cent.

As the property will be acquired and added to the portfolio by October 2016, VIB Vermögen will receive rental income from the site straight away. A rental agreement, which is set to run until the end of 2019, is in place with a big-name sporting goods manufacturer. Due to regular investments, the property is in an excellent condition and boasts a total rental area of around 30,200 m². The building also features a flexible layout and optimum links to the local infrastructure. The logistics centre is the second property in the Bavarian town of Uffenheim – a place that boasts excellent transport links – to be included within the VIB Vermögen portfolio.

As part of ongoing portfolio optimisation, VIB Vermögen has also disposed of two smaller commercial properties with a total floor space of roughly 2,000 m². The two properties had a combined share of about 0.2 per cent of the total rental revenue. The total proceeds from the sale of the properties came in at about EUR 2.3 million, which was in excess of their fair value.

“In keeping with our growth strategy, we are pursuing our goal of portfolio expansion based on both in-house developments and the targeted acquisition of existing properties. With the newly acquired logistics centre, we are further strengthening our market position. VIB Vermögen is therefore underlining its status as one of the most important listed portfolio management companies in the logistics segment,” explains Martin Pfandzelter, Chief Operating Officer of VIB Vermögen AG.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Luitpoldstr. C70
86633 Neuburg/Donau

Tel. +49 (0)8431 504 952
Fax: +49 (0)8431 504 973
Email: ed.ga-biv@trehceir.artep

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: Firstly, VIB completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. Secondly, it acquires properties that are already rented. VIB also holds investments in companies with real estate assets.