24/11/2015 | Corporate News
Fair Value REIT-AG sells four properties in Schleswig-Holstein above book value
334Munich, 24 November 2015 – Fair Value REIT-AG (WKN A0MW97) continues its portfolio concentration and sold four properties at a profit, which no longer fitted into the core portfolio. The properties are located in Ellerbek, Leezen, Norderstedt and Quickborn and have been acquired by different private investors. The disposals generated total sales proceeds of approx. 3.78m EUR, which is 6% above the IFRS book values. The transactions are expected to close in December 2015.
Frank Schaich, CEO of Fair Value REIT-AG, comments on the transactions: “We continue our strategic portfolio adjustment and, in this regard, benefit from the demand for disposals of small to medium sized properties at prices that are noticeably above the book value. In line with the corporate strategy, we will use the sales proceeds to turn indirectly held properties into direct ownership.”
Additional information of sold properties:
Location | Address | Lettable area | Sales price |
Ellerbek 1) | Pinneberger Strasse 155 | 356 sqm | 350.000 EUR |
Leezen | Hamburger Strasse 40 | 174 sqm | 182.000 EUR |
Norderstedt 1) | Ulzburger Strasse 363 d/e | 1.340 sqm | 1.600.000 EUR |
Quickborn | Kieler Strasse 100 | 1.309 sqm | 1.650.000 EUR |
1) Partial ownership
2015
