Having successfully concluded its capital increase, VIB Vermögen AG, a company specializing in commercial real estate portfolio management, is investing in high-yielding properties with a total volume of initially 32.6 million.
The company is developing a production and logistics center in Ingolstadt with a total rentable space of approximately 22,300 m², and entailing an investment volume of around 24 million. A company has been founded in order to realize the project in which VIB Vermögen AG holds a 75% majority interest, and in which a subsidiary of the city of Ingolstadt holds a 25% interest.
Furthermore, a logistics property in Ingolstadt-Grossmehring, which the company developed itself, has meanwhile been handed over to its tenant. This property entailed initial costs of 2.6 million.
Rental contracts have already been signed for two further properties, and construction work is underway to the tune of 6.0 million of investment volume. One property entails the construction of a logistics property on an existing plot of land in Baunatal near Kassel. The second property involves the creation of a logistics plant in Neuburg/Donau.
The total rental income that will be achieved after the properties have been created amounts to approximately 2.6 million. The rental agreements are largely long-term, and result in an average rental yield of 8.0%. The additional rental space will amount to approximately 36,000 m², and expand the total space of the real estate portfolio to almost 691,000 m².
Peter Schropp, the Management Board member responsible for the real estate sector, regards the VIB Group's revenue base as having been sustainably strengthened: "These transactions allow us to fulfill our commitment of reinvesting issue proceeds from the capital increase as rapidly as possible.
"We aim to continue to sustainably strengthen our real estate portfolio through selective and targeted acquisitions in the future."
Ludwig Schlosser, CEO of VIB Vermögen AG, added: "Above and beyond the investments that have now been specifically processed in contractual terms, we are now engaged in very specific negotiations for further investments entailing at least 25 million."
Source: cometis AG