Corporate News

DEMIRE secures a further commercial property in Schwerin

Frankfurt / Main, 13 April, 2015DEMIRE Deutsche Mittelstand Real Estate AG (“DEMIRE”, ISIN DE000A0XFSF0) together with another investor acquired a project company and with this acquisition has secured a further commercial property in the German federal state capital city of Schwerin. The DEMIRE real estate group had already purchased the neighbouring building in August 2014.

The project company owns an office building that was built in 1993 and modernised in 2013/2014 as part of what is known as “Margarentenhof” near the center of Schwerin. For the approximately 5,240 sqm of office space, long-term rental agreements are in place with the Schwerin Job Centre and the Federal Employment Agency, which ensure a secure and sustainable rental of the property. The tenants also include a restaurant business. Net rental income, excluding utilities, amounts to approximately EUR 0.55 million p.a.

DEMIRE has the option to acquire the co-investor’s interest in the project company at a later date and with that the opportunity to fully acquire the commercial property. The contents of the agreement have not been disclosed.

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