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DEMIRE Deutsche Mittelstand Real Estate AG
M&A Activity • Sep 27, 2016
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Corporate | 27 September 2016 07:39
DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE sells three retail properties in North Rhine-Westphalia for a profit
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Real Estate/Miscellaneous
2016-09-27 / 07:39
The issuer is solely responsible for the content of this announcement.
DEMIRE sells three retail properties in North Rhine-Westphalia for a profit
Frankfurt am Main, 27 September 2016 – DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) has sold three retail properties it no longer considered part of subgroup Fair Value REIT’s core portfolio for a profit. The properties are located in Ahaus-Wüllen and Lippetal-Herzfeld, all of them in the state of North Rhine-Westphalia.
The two properties in Ahaus-Wüllen are mainly used by a Kaufland hypermarket and were sold to a company of the Kaufland Group. At a total of EUR 5.5 million, the sale proceeds for the two properties before marketing costs exceeded the current carrying amounts by an aggregated 18%.
The property in Lippetal-Herzfeld is a mixed use building with a REWE supermarket as a long-term main tenant, which was acquired by private investors. Sales proceeds of EUR 1.8 million matched the current carrying amount.
Frank Schaich, CFO of DEMIRE and also CEO of Fair Value REIT-AG, commented on the transactions: “The two transactions are in line with our strategic objective of either selling or taking over direct ownership of properties previously held indirectly in order to further simplify our group structure and save costs. We are therefore delighted with the excellent result.”
Contact information
DEMIRE Deutsche Mittelstand Real Estate AG
Lyoner Straße 32
60528 Frankfurt am Main
Phone: +49 (0) 69-719 189 79 0
Fax: +49 (0) 69-719 189 79 11
Email: [email protected]
Web: www.demire.ag
Investor Relations
GFEI Aktiengesellschaft
Lars Kuhnke
Phone: +49 (0) 511 47 40 23 10
Email: [email protected]
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About DEMIRE – First in secondary locations
DEMIRE Deutsche Mittelstand Real Estate AG has commercial real estate holdings in mid-sized cities and up and coming areas bordering German metropolitan areas. As at June 30, 2016, DEMIRE held real estate consisting of 178 properties with a market value of EUR 982 million. As at the reporting date, contractual rents had been firmly agreed upon in the amount of EUR 74.2 million (at an occupancy rate of 87.8 % of the potential rents of EUR 84.5 million) for a term of 5.4 years.
DEMIRE aims to maintain its corporate organisation as lean as possible, although it still believes that economies of scale and portfolio optimisation are best achieved by having its own in-house asset, property and facility management. This safeguards the Company’s business expertise and, equally important, allows the Company to maintain direct contact with the customer.
DEMIRE Deutsche Mittelstand Real Estate AG shares (ISIN: DE000A0XFSF0) are listed in the Prime Standard segment of the Deutsche Börse in Frankfurt.
2016-09-27 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: | DEMIRE Deutsche Mittelstand Real Estate AG |
| Lyoner Straße 32 | |
| 60528 Frankfurt am Main | |
| Germany | |
| Phone: | +49 (0)69 / 719 189 79 0 |
| Fax: | +49 (0)69 / 719 189 79 11 |
| E-mail: | [email protected] |
| Internet: | www.demire.ag |
| ISIN: | DE000A0XFSF0 |
| WKN: | A0XFSF |
| Listed: | Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |