03/09/2013 | Corporate News
Fair Value REIT-AG sells two properties at a profit
201Munich, September 3, 2013 – Fair Value REIT-AG has sold a directly-held residential and commercial building in Norderstedt near Hamburg (Segeberg county) to a private investor. In addition, a subsidiary of the Fair Value Group has sold a retail property in Altenberge (Steinfurt county) to a local private investor.
The buildings with a rentable area totalling around 2,300 qm have a remaining lease term of around one year. The agreed purchase prices of EUR 1.6 million in total are on average around 9% above the market values determined by experts as of December 31, 2012.
Frank Schaich, CEO of Fair Value REIT-AG, commented on the disposals as follows: “We are systematically tapping the current demand among investors to optimise the real estate in our directly-held and participation portfolios. The prices agreed for the latest disposals once again show that our real estate maintains its value and that the expert assessments tend to be conservative. We will mainly use the proceeds to further increase our equity ratio, with funds also being committed in a targeted manner to increase our participations in individual associated companies.”
2013
