Fair Value REIT-AG

Regulatory Filings • Jun 18, 2008

News Details

Corporate | 18 June 2008 11:25

Fair Value REIT-AG acquires three further tenants for its office property in Düsseldorf’s ‘Airport City’

Fair Value REIT-AG / Agreement/Contract

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• Contracts for office space totaling around 1,830 m²
• Rental level currently at around 83%

Munich, June 18, 2008 – Fair Value REIT-AG has acquired three additional
tenants for office space totaling around 1,830 m² in Düsseldorf's 'Airport
City', plus storage space and car parking. The rental level has thus
increased to more than 83% one month prior to the office property being
completed.

Frank Schaich, CEO of the first German 'Upstream REIT' is very pleased with
the successful conclusion of these rental agreements. 'We are once again
now a major step closer to full occupancy of the office property at
Düsseldorf Airport. The excellent demand also results in an annual rental
income at full occupancy of about 950 T€, thus more than 7% higher than our
original forecast. This leads to an initial yield of 7.5% p.a. based on the
purchase price.' As was the case for the agreements already concluded,
these rental agreements were also brokered by the real estate specialist
Jones Lang LaSalle.

Fair Value secured ownership of the attractive property in direct proximity
to the terminal building at Düsseldorf Airport back in October 2007. The
property will have 4,454 m² of office space and 288 m² of storage space.
There will also be 103 car parking places, of which 89 are in an
underground garage.

Company profile

Munich-based Fair Value REIT-AG focuses on the acquisition, rental,
property management and sale of commercial properties in Germany. Its
investment activities focus primarily on offices, logistics and retail
properties in German regional centers. As a REIT-AG, Fair Value is not
subject to corporation or trade tax and benefits from the exit tax
privilege when purchasing properties. Fair Value's USP is that – in
addition to investing directly in real estate – it also acquires interests
in closed-end real estate funds.

In its 'Participations' segment Fair Value currently owns interests in 13
closed end real estate funds with a highly diversified portfolio of 49
properties. The rental area of this portfolio totals 422,503 m² and had a
market value of around EUR 558 million as of December 31, 2007 (Fair
Value's interest in this portfolio currently totals around EUR 225
million).

In its 'Direct Investments' segment, Fair Value acquired a portfolio of 32
commercial properties in the federal state of Schleswig-Holstein with a
rental area of 43,113 m², mostly used as bank branches. These properties
had a total market value of around EUR 50 million as of December 31, 2007.

As of December 31, 2007, the total portfolio which has a proportionate
market value of EUR 275 million for Fair Value, had an economic occupancy
level of more than 96% of the possible annual rent of around EUR 22
million. Around 47% of rental income stems from offices, 40% from retail
facilities, 8% is from logistics facilities and 5% from other facilities.

Contact

Investor & Media Relations
cometis AG
Ulrich Wiehle
Tel.: +49(0)611 – 205855-11
Fax: +49(0)611 – 205855-66
e-mail: wiehle@cometis.de

18.06.2008 Financial News transmitted by DGAP

Language: English
Issuer: Fair Value REIT-AG
Leopoldstraße 244
80807 München
Deutschland
Phone: +49 (0)89 9292 815-01
Fax: +49 (0)89 9292 815-15
E-mail: info@fair-value-reit.de
Internet: www.fair-value-reit.de
ISIN: DE000A0MW975
WKN: A0MW97
Indices: RX REIT All Share Index, RX REIT Index
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Stuttgart, München

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