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VIB Vermögen AG strengthens portfolio with further investments
- Expansion of high-growth logistics and retail portfolio
- Total investment volume of around EUR 27.4 million
- Long-term rental agreements with high credit rating tenants - including a Simon Hegele GmbH logistics subsidiary and Media Markt
VIB Vermögen AG, a company specialising in commercial real estate portfolio management, continues to add growth-sector investments to its real estate portfolio: the company has deployed some of the proceeds from the mandatory convertible bond issue to buy a logistics property in Uffenheim, in Germany's Middle Franconia region. The property, which is located directly on Germany's autobahn 7 highway, comprises an investment volume of around EUR 22.1 million and a rentable space of 26,854 m². The rental agreement that runs until June 2025 caters for predictable income and a pleasing rental yield of 7.9 %. The portfolio is further strengthened by a tenant with a high credit rating in the shape of Distriparts Deutschland GmbH, which, as a subsidiary of Simon Hegele GmbH, Karlsruhe, provides pan-European replacement parts supplies for Sweden's Electrolux Group.
In addition, VIB Vermögen AG has acquired a specialty shopping centre with a rentable space of 3,495 m² in Kulmbach, in Upper Franconia. This retail property also generates an attractive 7.5 % rental return on an approximately EUR 5.2 million investment volume. Here, too, the company prioritised long-term rental: the rental agreements - including with Europe's leading specialist electronics retailer Media Markt - extend up to October 2022 and September 2024 respectively, with subsequent extension options. This investment has further strengthened the portfolio, including with regard to the second growth sector - retailing.
Peter Schropp, VIB Vermögen AG Managing Board member responsible for the real estate segment, emphasises the business model's sustainability: "As announced, we have already directly invested some of the proceeds from our recent mandatory convertible bond issue into high-yielding properties in the promising future sectors of logistics and retail. The very attractive rental returns on the properties that we have acquired show that we are able to realise interesting purchases, also in today's environment of contracting purchase yields."
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