DGAP-News: HAMBORNER REIT AG / Key word(s): Disposal/Real Estate
HAMBORNER REIT AG reports further success in disposal operations and reduces
portfolio share of high street properties
2020-12-17 / 07:00
The issuer is solely responsible for the content of this announcement.
*PRESS RELEASE*
*HAMBORNER REIT AG reports further success in disposal operations and
reduces portfolio share of high street properties*
Duisburg, 17 December 2020 - HAMBORNER REIT AG is systematically continuing
its portfolio optimisation by gradually selling off retail properties in
city centre locations, and can report the disposal of further properties in
conjunction with several transactions.
After selling two properties in Osnabrück and Oldenburg that were no longer
consistent with strategy in the third quarter of 2020, in the last few weeks
the company has signed contracts to sell a total of nine other -
predominantly smaller - high street stores. These properties are located in
Frankfurt, Wiesbaden, Augsburg, Kaiserslautern, Koblenz, Rheine, Krefeld,
Oberhausen and Lüdenscheid.
Including the properties already sold in the third quarter, the sales prices
amount to around &euro59.1 million in total, approximately 2% more than the
market value of the eleven properties as at 30 June 2020. The annualised
total rent of the properties last amounted to around &euro3.9 million. The
disposals will lead to a positive effect on earnings of around &euro23.8
million. Ownership of the property in Osnabrück was transferred on 1
September 2020. The other properties are expected to be transferred to their
institutional and private buyers in the first quarter of 2021.
Given the acceleration on the transaction markets and the continued
intensity of marketing activities, the company is confident of further
successful disposals in the months ahead and of further reducing the share
of high street properties in the portfolio as a whole. HAMBORNER is also
examining various acquisition options on an ongoing basis in order to
gradually reinvest the proceeds from the disposals.
*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 &euro1.6
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.
*CONTACT *
Christoph Heitmann
Head of Investor & Public Relations
Tel.: +49 203 54405-32
Mail: c.heitmann@hamborner.de
Web: www.hamborner.de [1]
2020-12-17 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: HAMBORNER REIT AG
Goethestraße 45
47166 Duisburg
Germany
Phone: 0203/54405-0
Fax: 0203/54405-49
E-mail: info@hamborner.de
Internet: www.hamborner.de
ISIN: DE0006013006
WKN: 601300
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1155717
End of News DGAP News Service
1155717 2020-12-17
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=3efe125e6315c71cd183c918f2e9d904&application_id=1155717&site_id=vwd&application_name=news
(END) Dow Jones Newswires
December 17, 2020 01:00 ET (06:00 GMT)