31/07/2012 | Corporate News

Fair Value REIT-AG sells three bank branch buildings at a profit

Munich, July 31, 2012 – Fair Value REIT-AG has sold three properties leased to Sparkasse Südholstein for a total of around EUR 1.8 million. Two of the properties are located in Halstenbek (Pinneberg county), with the third in Nahe (Segeberg county). The proceeds from the sale of the properties are on average 7% higher than the market values calculated by experts as of December 31, 2011. 

Frank Schaich, CEO of Fair Value REIT-AG, explains the three transactions: “Our strategy includes making the most of market cycles with high demand for real estate in order to sell smaller portfolio properties. The fact that our latest sales in Schleswig-Holstein were concluded at substantially higher prices than the carrying amounts underlines the ability of our portfolio properties to retain their value.”

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2012