DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE sells three retail properties in North Rhine-Westphalia for a profit
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Real Estate/Miscellaneous
DEMIRE sells three retail properties in North Rhine-Westphalia for a profit
Frankfurt am Main, 27 September 2016 - DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) has sold three retail properties it no longer considered part of subgroup Fair Value REIT's core portfolio for a profit. The properties are located in Ahaus-Wüllen and Lippetal-Herzfeld, all of them in the state of North Rhine-Westphalia.
The two properties in Ahaus-Wüllen are mainly used by a Kaufland hypermarket and were sold to a company of the Kaufland Group. At a total of EUR 5.5 million, the sale proceeds for the two properties before marketing costs exceeded the current carrying amounts by an aggregated 18%.
The property in Lippetal-Herzfeld is a mixed use building with a REWE supermarket as a long-term main tenant, which was acquired by private investors. Sales proceeds of EUR 1.8 million matched the current carrying amount.
Frank Schaich, CFO of DEMIRE and also CEO of Fair Value REIT-AG, commented on the transactions: "The two transactions are in line with our strategic objective of either selling or taking over direct ownership of properties previously held indirectly in order to further simplify our group structure and save costs. We are therefore delighted with the excellent result."
About DEMIRE - First in secondary locations
|Company:||DEMIRE Deutsche Mittelstand Real Estate AG|
|Lyoner Straße 32|
|60528 Frankfurt am Main|
|Phone:||+49 (0)69 / 719 189 79 0|
|Fax:||+49 (0)69 / 719 189 79 11|
|Listed:||Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|