DGAP-News: VIB Vermögen acquires a logistics/light industry property in southern Thuringia for EUR 16.9 million

Corporate news

VIB Vermögen acquires a logistics/light industry property in southern Thuringia for EUR 16.9 million

Neuburg/Danube, July 2, 2019 - VIB Vermögen AG, a company specialising in the development, acquisition and management of commercial properties, has added an extremely attractive logistics/light industry property to its portfolio.

The property has been acquired via a sale-and-lease-back share deal with our third-largest tenant. The property in southern Thuringia boasts some 19,500 square metres of rentable space, split between three separate areas, with the rental agreement term of ten years bolstering the excellent, long-term partnership. Thanks to its strategically favourable location just off the A9 motorway, the site is ideal for Europe-wide distribution logistics. The total investment volume stands at approx. EUR 16.9 million. On account of the plot size of more than 74,000 square metres, the project also offers the potential for subsequent redensification.

"Having already successfully renewed the rental agreements with our two largest tenants, we are now delighted to be building on the long-term commercial relations with our third-largest tenant," explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG. "The trust on which our partnership is based is underscored by the fact that the vendor of the property will remain involved in the project as a co-investor holding some ten per cent."

Contact

Investor Relations:
VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg/Donau
Tel.: + 49 (0)8431 9077-952
Fax: + 49 (0)8431 9077-929
E-Mail: 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.