VIB Vermoegen AG

Regulatory Filings • Aug 27, 2007

News Details

Corporate | 27 August 2007 07:54

VIB Vermögen AG expands portfolio by new investments amounting to EUR 35.9m

VIB Vermögen AG / Miscellaneous

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VIB Vermögen AG expands portfolio by new investments amounting to
EUR 35.9m

Neuburg / Donau, 27th August 2007 – The VIB Vermögen AG, a real estate
company specialised in commercial real estate, has expanded its portfolio
through the acquisition of five properties used for commercial purposes,
and in addition, another piece of land. The total investment volume amounts
to around EUR 31.3m for the properties located in Bavaria, which are
fully-let for a long period. Through the investment, the VIB Vermögen AG
expects additional annual rental income of about EUR 2.6m. This is
equivalent to a rental yield of 8.3%. The acquisitions are being financed
with approximately 29% equity. The remaining amount is being financed
through bank loans.

Three of the five properties will already become revenue-effective as of
1st October 2007. These include a commercial and services centre in
Nürnberg. The building has floor space amounting to 11,527 m² and the
tenants include a job promotion centre and a specialist retailer for
electronic goods. In addition, a combined warehouse and office building in
Regensburg, which is let to a wholesaler for electrical goods and to a
logistics company, is expected to contribute to the expansion of the VIB
Vermögen AG. The property comprises a lettable area of 9,537 m². And
finally, real estate comprising a production facility with its own storage
area and annexed offices has been acquired, and will be revenue-effective
as of October 2007. The real estate is situated in the greater area of
Nürnberg and the building, which has a floor space of about 6,500 m², is
let to a mechanical and automation-engineering company and to a wholesaler.

Two further properties will become revenue-effective as of 1st January
2008: for instance, an office building in Nürnberg with an area of 4,625 m²
that is being let primarily to a public authority. In addition, the VIB
Vermögen AG is acquiring a property with production and logistics
facilities in the greater area of Ingolstadt. The building has a floor
space of 9,741 m² and is let to various companies operating
internationally.

In addition to the five commercial properties, the VIB Vermögen AG has also
been able to secure an attractive piece of land in Ingolstadt for a
purchase price of EUR 4.6m including the acquisition costs. The piece of
land comprises an area of about 12,400 m² and is to be developed as a
retail and services centre. The company has already received initial
enquiries from interested parties with good credit ratings. On completion
of the property, the VIB Vermögen AG expects a rental yield of over 8%.

Ludwig Schlosser, CEO of the VIB Vermögen AG, sees his strategy confirmed:
'We are profiting from our position in the market and can continue to
acquire high-yield, attractive properties located in Bavaria. Through the
most recent acquisitions, our portfolio has increased to around 40
properties. These generate rental income of over EUR 23m on an annualised
basis.'

Investor Relations:

cometis AG
Ulrich Wiehle
Unter den Eichen 7
65195 Wiesbaden
Tel.: +49 (0)611 205855-11
Fax: +49 (0)611 205855-66
E-mail: ulrich.wiehle@vib-ag.de

27.08.2007 Financial News transmitted by DGAP

Language: English
Issuer: VIB Vermögen AG
Luitpoldstraße C 70
86633 Neuburg/Donau
Deutschland
Phone: +49 (0)8431 / 504-952
Fax: +49 (0)8431 / 504-973
E-mail: cornelia.eissmann@vib-ag.de
Internet: www.vib-ag.de
ISIN: DE0002457512
WKN: 245751
Indices:

End of News DGAP News-Service

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