HAMBORNER REIT AG acquires retail centre in Dietzenbach
Duisburg, 24 November 2020 - HAMBORNER REIT AG has signed the purchase agreement for a small retail centre in Dietzenbach near Frankfurt/Main. The attractively designed property built in 2011 is in a central and established location adjacent to the local train stop, providing a direct line to Frankfurt's city centre.
With approximately 45% of the total leased area of around 4,800 square metres, the biggest tenant is the food retailer tegut. Founded in 1947, tegut currently operates around 280 supermarkets in Germany and is a subsidiary of the Migros Group, Switzerland's largest retail group. Other main tenants include LIDL and dm, which also serve residents' day-to-day shopping needs. The weighted remaining term of leases is around 5.7 years. The annualized rental income amounts to ?0.76 million.
The property is being sold by a family office that has requested that the purchase price is initially not be disclosed. Payment of the purchase price and transfer of ownership of the property are provisionally scheduled for late 2020 or early 2021.
ABOUT HAMBORNER REIT AG
HAMBORNER REIT AG is a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around ?1.6 billion. The portfolio focuses on modern office properties as well as local supply properties as large-scale retail assets, retail parks, DIY stores and attractive high street properties in major German cities and mid-sized centres.
HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainable dividend policy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.
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