HAMBORNER REIT signs purchase agreement for retail and office property in Karlsruhe (DE)

HAMBORNER REIT AG is making rapid progress in the investment of the funds from its capital increase. Following its acquisition of the E-Center in Tübingen and the OBI store in Hamburg, the company has now signed a purchase agreement for a commercial property in which the core tenant is EDEKA.

Thus, the company has already acquired three out of four properties in the pipeline developed in connection with the capital increase.

The property purchased in this agreement is an attractive district centre on Rüppurrer Strasse 1, an exposed and highly frequented part of Karlsruhe close to the city centre. On the ground floor, EDEKA operates a large-area supermarket. The top floors of the roughly 15,000 m² complex are home to several offices, medical practices and catering establishments.

The purchase price is around €37 million and the gross initial yield will be approximately 6.6%.

HAMBORNER REIT AG intends to continue its expansion in the asset classes of retail and office properties. The members of the Managing Board Dr. Rüdiger Mrotzek and Hans Richard Schmitz are delighted by the signing of this agreement.

"This investment and those in Hamburg and Tübingen show that we are keeping our promise to invest the funds raised by the capital increase quickly. We are highly confident that we will also have good news to report regarding the last property in the pipeline soon."

Source: Hamborner REIT

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