DEMIRE Deutsche Mittelstand Real Estate AG: Successful start of boosting portfolio activity
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Real Estate/Disposal
- 5 properties sold at a price of approximately EUR 32.2 million
Langen, 17 October 2019 - DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) is systematically implementing the REALize Potential strategy, which includes acquisitions, as well as the selective sale of real estate. Five office and retail properties were sold in individual transactions in Bremen, Rendsburg, Stahnsdorf, Wahlstedt and Wurzen.
The office property in Stahnsdorf is the largest of the properties sold with a sales price of EUR 24.4 million. This property, which is currently leased to Deutsche Telekom, is a former barracks area with 17,110 square metres of lettable space located at the southern edge of the town. The buyer is an experienced project developer with local expertise.
The four other properties sold are part of DEMIRE AG's disposal programme for small properties. The aim of these sales is to focus the portfolio more strongly on institutional property sizes, a criterion not met by the latest small properties sold, which had an average value of EUR 1.9 million. This programme will increase the average property size of the portfolio while reducing the administrative burden.
Ingo Hartlief, CEO of DEMIRE AG, in his comments on the sale, said: "The REALize Potential strategy envisages a boost to the portfolio's activity, as well as further institutionalisation of the portfolio, in addition to the last reported purchases. We are pleased to announce the first successes in the implementation of the sales. The prices achieved emphatically demonstrate not only the conservative valuation of our real estate but also that we are successful in fully realising the real value potential. We will use the sales proceeds for DEMIRE's continued growth."
DEMIRE - Deutsche Mittelstand Real Estate AG
|Company:||DEMIRE Deutsche Mittelstand Real Estate AG|
|Robert-Bosch-Straße 11 im 'the eleven'|
|63225 Langen (Hessen)|
|Phone:||+49 6103 37249-0|
|Fax:||+49 6103 37249-11|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange|
|EQS News ID:||891547|
|End of News||DGAP News Service|