VIB Vermögen AG, Southern Germany's leading listed commercial real estate company, has completed the purchase of four further high-yielding properties at Group level.
With a total volume of 19.4 million (including incidental costs), the acquired properties generate an average 8.8% annual return, as well as 1.7 million of additional rental income. The company's total rentable space has increased by 18,000 m² due to this expansion of the real estate portfolio.
The first of the new real estate acquisitions located in Bavaria is a logistics property in Schesslitz near Bamberg, which allows the company to strengthen its promising logistics segment. An internationally operating logistics services provider is the long-term tenant of this property, which boasts very good connections to the European long-distance motorway network. The second property is a further section of the businessPark Regensburg, which VIB Vermögen AG now owns in its entity following the conclusion of this transaction.
The retail segment is being expanded by the purchase of two specialist market centers in Mühldorf am Inn and in Moosburg an der Isar. Both properties are fully rented to renowned tenants such as Edeka, Lidl and Penny. The rental contracts run between three and eight years.
Ludwig Schlosser, CEO of VIB Vermögen AG, ascribes the investments to the company's growth strategy: "The issue proceeds from the capital increase have been fully reinvested with these investments. We have realized 64 million of targeted investments in total this year as part of our overall strategy. The 8.2% rental yield that we expect from these properties will contribute to further boosting our profitability."
Once the project developments have been concluded, and the acquired real estate objects have been transferred to the VIB Group's portfolio, the VIB Group will own 93 properties with a total rentable space of 732,000 m².
Source: VIB Vermögen AG