DGAP-News: VIB Vermögen agrees early renewal of rental agreements for 41,000 square metres of logistics space at the Interpark site

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VIB Vermögen agrees early renewal of rental agreements for 41,000 square metres of logistics space at the Interpark site

Neuburg/Danube, November 19, 2018 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, has agreed early renewals with its second-largest tenant - the Rudolph Logistics Group - in respect of three properties at Interpark. This is further proof of the close cooperation and spirit of trust between VIB Vermögen and its existing tenants.

Both companies have signed early rental agreement renewals until December 31, 2029, in respect of space measuring some 41,000 square metres. The second-largest tenant in the portfolio is thus giving a clear commitment to the Interpark site near Ingolstadt for a further eleven years.

"First of all, these contractual renewals underscore the highly attractive nature of the Interpark site. Furthermore, the early extension of these rental contracts, which have largely been in place for ten years, illustrate the considerable importance attached by VIB Vermögen to long-term partnerships with its major existing tenants," explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.
 

Contact

Investor Relations:

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