EANS-News: Fair Value REIT-AG Fair Value REIT-AG sells a mixed-use-property in
Pinneberg at a profit
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Spin-offs/Sale of Property
München (euro adhoc) - September 20, 2012 - Fair Value REIT-AG is selling a
mixed-use-property in Pinneberg for EUR 0.7 million as of the transfer date
November 1, 2012. The main tenant of the fully leased property is Sparkasse
Südholstein. The agreed purchase price is 11% higher than the market valuation
as of December 31, 2011.
Frank Schaich, CEO of Fair Value REIT-AG, commented on the sale: "At the start
of 2012, we declared that we are aiming to make the most of the tangible
increase in demand from investors by selling smaller properties as part of our
portfolio management efforts. After selling three properties at a profit to
date, we have now taken another step in the right direction with the latest
transaction."
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 June 30, 2012, Fair Value's share of the total portfolio amounted to
around EUR 221 million. This portfolio had an occupancy rate of 95.0% of the
achievable rents at full occupancy of EUR 19.5 million per annum. As of June 30,
2012, the weighted remaining term of the leases was 5.7 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