DGAP-News: VIB Vermögen AG: Advance extension of tenancy agreements with its largest existing tenant to 2032 a acquisition of a garden centre in Göppingen
05.02.2019 (www.4investors.de) -
DGAP-News: VIB Vermögen AG / Key word(s): Real Estate
VIB Vermögen AG: Advance extension of tenancy agreements with its largest existing tenant to 2032 a acquisition of a garden centre in Göppingen
05.02.2019 / 07:30
The issuer is solely responsible for the content of this announcement.
VIB Vermögen extends tenancy agreements with its largest existing tenant to 2032 ahead of schedule and acquires garden centre in Göppingen
- Early extensions to tenancy agreements until 2032 for the Dehner Group's 15 locations
- Further acquisition of a Dehner garden centre in Göppingen with an investment volume of around EUR 13.5 million
Neuburg/Danube, February 5, 2019 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, enjoys its largest tenant's complete confidence. The Dehner Group has prematurely extended the existing tenancy agreements for properties at 15 locations until 2032.
The acquisition of another Dehner garden centre in Göppingen is helping to strengthen the balanced mix of businessesin its portfolio. VIB is thus also further building on its regional presence in Baden-Württemberg. The property will be converted in 2019 in line with the latest garden centre concept and is expected to be handed over at the end of 2019. The investment volume is around EUR 13.5 million. An attractive tenancy agreement with a 20-year term was concluded for the rentable space of 10,170 square metres.
"Thanks to our excellent tenant relationship with our largest existing tenant, we were able to secure a considerable portion of our net rental income until 2032. We are delighted that we managed to acquire another property at the same time and, in doing so, also expanded our portfolio," says Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.
VIB Vermögen AG
Tel.: +49 (0)8431 9077 952
Fax: +49 (0)8431 9077 929
About VIB Vermögen AG
VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for 25 years. The company focuses on properties from the logistics/light industry and retail 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.
05.02.2019 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
VIB Vermögen AG
+49 (0)8431 / 9077 952
+49 (0)8431 / 9077 973
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange
End of News
DGAP News Service