EANS-News: Fair Value REIT-AG Fair Value REIT-AG sells three bank branch
buildings at a profit
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Contracts/Sale of Real Estate
München (euro adhoc) - Fair Value REIT-AG sells three bank branch buildings at a
profit
Munich, July 31, 2012 - Fair Value REIT-AG has sold three properties leased to
Sparkasse Südholstein for a total of around EUR 1.8 million. Two of the
properties are located in Halstenbek (Pinneberg county), with the third in Nahe
(Segeberg county). The proceeds from the sale of the properties are on average
7% higher than the market values calculated by experts as of December 31, 2011.
Frank Schaich, CEO of Fair Value REIT-AG, explains the three transactions: "Our
strategy includes making the most of market cycles with high demand for real
estate in order to sell smaller portfolio properties. The fact that our latest
sales in Schleswig-Holstein were concluded at substantially higher prices than
the carrying amounts underlines the ability of our portfolio properties to
retain their value."
Contact
HYPERLINK "mailto:Fair"Fair Value REIT-AG
Frank Schaich
Tel. +49 (0) 89 9292815-10
Fax +49 (0) 89 9292815-15
e-mail: schaich@fvreit.de
Corporate profile
Fair Value REIT-AG, based in Munich, focuses on the acquisition, leasing,
property management and sale of commercial properties in Germany. At the core of
its investment activities are office and retail properties in German regional
centres.
As of March 31, 2012, Fair Value's share of the total portfolio amounted to
around EUR 222 million. This portfolio had an occupancy rate of 94.2% of the
achievable rents at full occupancy of EUR 19.7 million per annum. As of March
31, 2012, the weighted remaining term of the leases was 5.8 years. Around 44% of
the potential rent relates to retail floor space, 42% to office space and 14% to
other facilities.
Further inquiry note:
{Fair}[HYPERLINK: mailto:Fair] Value REIT-AG
Frank Schaich
Tel. 089-9292815-10
Fax. 089-9292815-15
e-mail: schaich@fvreit.de
end of announcement euro adhoc
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company: Fair Value REIT-AG
Leopoldstraße 244
D-80807 München
phone: +49 (0) 89 9292815 01
FAX: +49 (0) 89 9292815 15
mail: info@fvreit.de
WWW: http://www.fvreit.de
sector: Real Estate
ISIN: DE000A0MW975
indexes: CDAX, Classic All Share, Prime All Share, RX REIT All Share Index,
RX REIT Index
stockmarkets: free trade: Berlin, München, Düsseldorf, Stuttgart, regulated
dealing/prime standard: Frankfurt
language: English