VIB Vermögen AG sells property in Dingolfing
This property has formed part of the VIB Group's portfolio since 2007, and comprises a rentable space of 27,585 m². The annual rent excluding utilities charges amounted to around € 1.5 million. The free liquidity of approximately € 9 million resulting from the sales proceeds is soon to be reinvested in new assets that can be refinanced more favourably than the property that has been sold due to the current interest-rate level. The existing financing facility will be fully repaid as part of the disposal, and on a cost-neutral basis for VIB Vermögen AG.
Ludwig Schlosser, CEO of VIB Vermögen AG, noted: "As part of managing our assets, we decided to sell this property, and we identify opportunities to realise even higher-yielding investments in the current environment. The sale of this property at its carrying amount in line with the fair value approach emphasises the fact once again that our real estate valuations are sustainable and meaningful."
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. 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.