VIB Vermoegen AG

M&A Activity • Nov 3, 2006

News Details

Corporate | 3 November 2006 08:33

VIB Vermögen AG acquires high-yield logistics real estate for EUR 47m

Corporate news transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— Neuburg/Donau, November 3, 2006 – VIB Vermögen AG, the specialist for commercial real estate, has extended its portfolio significantly through the acquisition of a parcel of logistics real estate. At a purchase price of EUR 47 million, the real estate holding company from Neuburg/Donau has acquired a total of seven well-situated properties with excellent transport connections in Bavaria and Nordhessen. The tenants are two internationally-active logistics service providers and a German automobile manufacturer. The real estate parcel generates an above-average rental yield of around 8.75% p. a. The floor space is fully let and comprises a total of 74,888 m2, which is divided up into lettable areas of between 1,550 m2 and 27,500 m2. All of the properties are in a good state of repair and require no short-term investment. Through this transaction, the VIB Vermögen AG has increased the total rentable area of its real estate portfolio – not including the real estate of the BBI AG – by about 45% to 241,000 m2. The investment is being financed with around EUR 17 million equity and a loan amounting to EUR 30 million. Ludwig Schlosser, CEO of the VIB Vermögen AG, is pleased with the successful transaction: ‘The tenants are established logistics service providers of excellent financial standing with over 2,000 employees at 20 locations in Europe as well as a well-known automobile manufacturer. The annual rental income of about EUR 4.2 million will enable us to sustain our clear double-digit growth in future, too. And at the same time, the asset value of the VIB Vermögen AG is increasing!’ Profile of the VIB Vermögen AG The VIB Vermögen AG is a medium-sized real estate holding company that focuses its investments on commercial real estate in the South Bavarian region. Founded in 1993 as a business partnership, the VIB was converted into a public company in the year 2000. Since then the company has developed its core competency in the fields of acquisition and administration of its own real estate and of investing in companies with real estate assets. The real estate portfolio of the VIB Group – not including the real estate of the BBI AG – comprises around 30 different properties including both an industrial plant and an industrial estate in Neuburg/Donau, a commercial park in Günzburg and the DonauCityCenter in Ingolstadt. A Burger King Restaurant near Pfaffenhofen on the A9 and a retail and services centre in the commercial area of Memmingen-Nord are also part of the company’s holdings. With a total rentable area of over 241,000 m2, the company achieves sustainable rental yields of over 8% p. a. Investor Relations: cometis AG Ulrich Wiehle Tel: 0611 / 205855-11 Fax: 0611 / 205855-66 E-mail: ulrich.wiehle@vib-ag.de (c)DGAP 03.11.2006 ————————————————————————— Language: English Issuer: VIB Vermögen AG Luitpoldstraße C 70 86633 Neuburg/Donau Deutschland Phone: 08431 / 504-955 Fax: 08431 / 504-747 E-mail: rainer.hettmer@vib-ag.de WWW: www.vib-ag.de ISIN: DE0002457512 WKN: 245751 Indices: End of News DGAP News-Service ————————————————————————