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Fair Value REIT-AG
Business and Financial Review • Jan 18, 2018
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Business and Financial Review
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News Details
Corporate | 18 January 2018 07:30
Fair Value REIT-AG announces further positive effects from the implementation of its business strategy
DGAP-News: Fair Value REIT-AG / Key word(s): Real Estate
18.01.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
Fair Value REIT-AG announces further positive effects from the implementation of its business strategy
– Settlement balance of approx. EUR 10 million from investment in the BBV Immobilien-Fonds Nr. 9 fund received ahead of schedule
– Repayment of liabilities totalling EUR 7 million
Graefeling, 18 January 2018 – Fair Value REIT-AG (WKN A0MW97) today announced that it has successfully completed the termination of its approximately 25-percent minority interest in the BBV Immobilien-Fonds Nr. 9 fund announced effective 31 December 2013 by the end of 2017. The final repayment of the predetermined settlement balance of approximately EUR 10 million was received ahead of schedule at the end of 2017. Fair Value REIT-AG used these funds to repay loans of EUR 7 million ahead of schedule. This leaves an additional approximately EUR 3 million available for investments. The average cost of the loan was 4 percent, with the loan originally scheduled to run until February 2019. The loan was repaid without additional penalties for early repayment.
In addition to the now completed termination of the investment in BBV Immobilien-Fonds Nr. 9, the sale and acquisition of properties from Immobilien-Fonds IC 7 and BBV Immobilien-Fonds Nr. 6 during the 2017 financial year have laid the foundations for terminating and liquidating these investments in the future. Fair Value REIT-AG is thereby pursuing its strategic objective of selling and/or taking direct ownership of indirectly held properties and streamlining the structure of the company in addition to continuing to increase its shareholdings in investment companies.
Contact
Fair Value REIT-AG
Patrick Kaiser
Tel. +49 (0)89-9292815-10
Fax: +49 (0)89-9292815-15
E-Mail: [email protected]
Company profile
Domiciled in Graefeling near Munich, Germany, Fair Value REIT-AG is focused on the acquisition, letting, portfolio management and sale of commercial properties in Germany. The emphasis of its investment activities currently is on retail and office properties in German regional centres.
18.01.2018 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: | Fair Value REIT-AG |
| Würmstraße 13a | |
| 82166 Gräfelfing | |
| Germany | |
| Phone: | +49 (0)89 9292 815-1 |
| Fax: | +49 (0)89 9292 815-15 |
| E-mail: | [email protected] |
| Internet: | www.fvreit.de |
| ISIN: | DE000A0MW975 |
| WKN: | A0MW97 |
| Indices: | RX REIT All Share Index, RX REIT Index |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |