VIB Vermögen AG acquires shopping centre near Bamberg
- High-quality real estate property with long-term tenants with high credit ratings for approximately EUR 22.2 million investment volume
- Rental contract with VIB Vermögen AG founder-tenant extended by further ten years
VIB Vermögen AG, a company specialising in commercial real estate portfolio management, continues to expand its real estate portfolio as the new year gets underway. The company has acquired a large shopping centre in Bischberg-Trosdorf near Bamberg entailing an investment volume of EUR 22.2 million. Its 15 tenants on a rentable space totalling 13,770 m² include highly credit-rated partners like Kaufland, Schuh Mücke, Rofu Kinderland and Takko, among others. This retail property was constructed in 2012, and generates an annual 7.4 % rental yield. Rental contracts of between five and 15 years have been signed with these tenants, whereby the contracts of the two tenants renting the largest spaces carry durations of 11 and 15 years respectively. The purchase of this property is being financed with some of the proceeds from the mandatory convertible bond issued in November and a loan.
"We are strengthening our retail portfolio with the acquisition of this shopping centre in Bischberg-Trosdorf. Our overall portfolio focusing on the logistics and retail growthsectors now comprises a total of 99 high-quality properties with a total rentable space of around 907,000 m² and annualised net rental income of approximately EUR 60.6 million," commented Ludwig Schlosser, CEO of VIB Vermögen AG.
The prolongation of the rental contract in the case of an industrial property in Neuburg/Danube also underscores the real estate portfolio's high asset-quality and the investment strategy's sustainability. "We are proud that our first tenant from 1994, which today operates under the name of Faurecia Autositze GmbH, has now extended its rental contract by a further ten years. This is proof of the confiding and reliable relationship with our tenants," as Ludwig Schlosser added.
VIB Vermögen AG
VIB Vermögen AG is a medium-sized real estate holding company whose investments focus on commercial properties in Southern Germany. Formed as a partnership in 1993, VIB Vermögen AG was transformed to become a German public limited company (Aktiengesellschaft) in 2000. The company acts successful on the market for 20 years now. Since then, the company has been developing its core competencies in the acquisition and management of its own properties, and of participating interests in companies with real estate portfolios.
VIB Vermögen AG pursues a "develop-or-buy-and-hold" strategy. Next to the acquiring of existing real estate for the own portfolio both, project development and conception of properties are in the main focus. The VIB Group's real estate portfolio includes logistics properties, industrial plants, shopping centres and retail parks, and commercial and service centres.