DGAP-News: VIB Vermögen expands and optimises property portfolio

Corporate news

VIB Vermögen expands and optimises property portfolio

Neuburg/Danube, November 26, 2019 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, is strengthening its portfolio with the completion and handover of two properties, as well as the sale of another property.

Both the development project for the second construction phase in Schwarzenbruck and the first construction phase of the major project in Interpark, near Ingolstadt, will be completed on time and on budget - and handed over to the tenants in a few days. The lettable space of the property portfolio will therefore rise by a further 37,200 square metres, with this space starting to generate revenue for the financial year 2020 as a whole.

As of the end of the year and after a long-term ownership, VIB is selling a mixed-use property with retail and office space with some 10,000 square metres of lettable space. The sale proceeds will be directly reinvested in lucrative in-house developments. A non-disclosure agreement has been concluded with the buyer in respect of the selling price.

"We are delighted to achieve excellent results in all operational aspects connected with portfolio optimisation," explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG. "By directly reinvesting the sale proceeds in new projects, we are not only reducing the age of our portfolio but are also driving the profitable company growth."

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel.: +49 (0)8431 9077 952
Tilly-Park 1 Fax: +49 (0)8431 9077 929
86633 Neuburg/Donau Email: [email protected]

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for 25 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.