DGAP-News: VIB Vermögen: successful handover of another in-house development at Interpark Kösching near Ingolstadt
DGAP-News: VIB Vermögen AG / Key word(s): Miscellaneous
VIB Vermögen: successful handover of another in-house development at Interpark Kösching near Ingolstadt
28.06.2017 / 07:33
The issuer is solely responsible for the content of this announcement.
Corporate news
VIB Vermögen: successful handover of another in-house development at Interpark Kösching near Ingolstadt
Neuburg/Danube, June 28, 2017 - VIB Vermögen AG has now completed and handed over the second in-house development this year at Interpark Kösching near Ingolstadt on schedule. Back in March, the company - which specialises in the acquisition, development and portfolio management of commercial properties - completed another in-house development within the designated time frame and handed it over to the tenant for use.
The useful area of the property handed over most recently stands at around 7,100 m2. With an investment volume of approx. EUR 8.7 million, the property is generating an attractive net initial yield of 8.3 per cent. The property is let to a Scandinavian technology company for a ten-year term and was completed on time and on budget.
With this new in-house development VIB Vermögen now has six portfolio properties at the site, and these are let to different tenants from a variety of sectors. Acting with foresight, VIB had already acquired the corresponding plots of land at any early stage. Interpark Kösching is one of the most important industrial parks in southern Germany and boasts an outstanding infrastructure. It is situated in direct proximity to Ingolstadt and within the catchment area of the Munich and Nuremberg metropolitan regions.
"We are delighted to be able to further strengthen our presence at such an attractive site, thereby pushing ahead with our strategy of using highly profitable in-house developments to grow in the current market environment," remarks Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG. "In addition to the properties that have already been handed over, we also possess two more attractive reserved plots that we wish to develop in the near future," adds Martin Pfandzelter.
Contact
Investor Relations:
VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg/Donau
Tel. +49 (0)8431 9077 952
Fax: +49 (0)8431 9077 1952
Email: petra.riechert@vib-ag.de
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 acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.
28.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
VIB Vermögen AG
Luitpoldstraße C 70
86633 Neuburg/Donau
Germany
Phone:
+49 (0)8431 / 504-952
Fax:
+49 (0)8431 / 504-973
E-mail:
petra.riechert@vib-ag.de
Internet:
www.vib-ag.de
ISIN:
DE0002457512
WKN:
245751
Listed:
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange; Open Market in Frankfurt
End of News
DGAP News Service
586847 28.06.2017