DGAP-News: VIB and WDP evaluating the potential for joint developments of logistics properties in North Rhine-Westphalia, Bremen and Hamburg

VIB and WDP evaluating the potential for joint developments of logistics properties in North Rhine-Westphalia, Bremen and Hamburg

Neuburg/Danube, June 6, 2019 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, and WDP, a developer and portfolio manager of logistics properties in Benelux, have signed an LOI with a view to evaluating joint expansion of their logistics portfolios. The target region for investments comprises North Rhine-Westphalia, Bremen and Hamburg.

Targeted investments in the aforementioned regions represent a sensible expansion in terms of offering the companies' tenants wider geographic coverage. It is planned to make the investments under the auspices of a joint venture in which each of the two companies will hold a 50 per cent stake. The intention is that the investments will be completed in accordance with the current "develop-or-buy-and-hold" strategy in the logistics/light industry segment. VIB Vermögen, which has been operating on the German property market for more than 25 years and whose portfolio predominantly includes properties in southern Germany, will grow in the north of the country as a result, whereas the geographic presence of the WDP portfolio will extend eastward.

"By expanding our regional focus beyond our existing core region of southern Germany, we are generating potential for further sustainable and profitable growth. This partnership between two successful European real estate companies fosters regional expansion by pooling development expertise and a mutually complementary customer base," explains Martin Pfandzelter, CEO of VIB Vermögen AG.

"We firmly believe that extending our core region through expansion into Germany is the right move in terms of meeting our customers' needs. And it is supported by our strategy of forging long-term partnerships with new and existing customers," adds Joost Uwents, CEO of WDP.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg an der Donau
Tel.: +49 (0)8431 9077 952
Fax: +49 (0)8431 9077 929
Email: petra.riechert@vib-ag.de

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for 25 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.