Corporate | 3 March 2009 16:10
VIB Vermögen AG / Disposal
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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- Office property in Regensburg and hotel in Ingolstadt sold
- Total selling price of EUR 5.13 million generated
- Portfolio structure further optimized
Neuburg/Donau, March 3, 2009 - VIB Vermögen AG, a company specializing in
managing commercial real estate, has sold two commercial properties with a
total lettable area of around 5,000 m². The transaction includes the sale
of an office building in Regensburg and a hotel in Ingolstadt. The company
recorded total proceeds from the sale of EUR 5.13 million, which is thus
only slightly lower than the properties' carrying amount according to IFRS.
Ludwig Schlosser, VIB Vermögen AG's CEO, stated that the sales were part of
the company's ongoing optimization of its portfolio: 'We added 14
properties to our real estate portfolio last fiscal year - which means that
VIB Vermögen AG now has 81 commercial properties on its books. These two
properties were sold to further optimize our portfolio and will improve our
average rental return.'
The company invested a total of EUR 120 million in fiscal year 2008. These
new investments have a total lettable area of around 123,500 m² and provide
a rental income to the amount of EUR 9 million. This means that VIB
Vermögen AG generates an average rental return of 7.5% with the properties
it purchased in 2008.
Profile of VIB Vermögen AG (incl. BBI Immobilien AG)
VIB Vermögen AG is a medium-sized real estate holding company, whose
investments focus on commercial properties in Southern Germany. Founded as
a business partnership in 1993, VIB was converted into an
Aktiengesellschaft (German public limited company) in 2000. Since then, the
company has developed its core competences in the field of acquisition and
management of its own properties and of investment in companies with real
estate assets.
The VIB Group pursues a 'buy and hold' strategy. This entails developing
real estate for its own portfolio and also acquiring existing properties.
The real estate portfolio of the VIB Group comprises various logistics
properties and industrial facilities, shopping and specialist retail
centers as well as commercial and service centers. The VIB Group achieves
sustainable rental returns from a total lettable area of approximately
618,000 m².
Contact
Investor relations:
VIB Vermögen AG
Petra Riechert
Luitpoldstr. C70
86633 Neuburg/Donau
Phone: + 49 (0)8431 504-952
Fax: + 49 (0)8431 504-973
E-Mail: petra.riechert@vib-ag.de
cometis AG
Dirk Stauer
Unter den Eichen 7
65195 Wiesbaden
Phone: +49 (0)611 205855-22
Fax: +49 (0)611 205855-66
E-Mail: dirk.stauer@vib-ag.de
03.03.2009 Financial News transmitted by DGAP
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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: petra.riechert@vib-ag.de
Internet: www.vib-ag.de
ISIN: DE0002457512
WKN: 245751
End of News DGAP News-Service
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