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EQS-News: VIB Vermögen AG
/ Key word(s): Real Estate
VIB Vermögen AG acquires eight properties from Branicks
Neuburg/Donau, 26 March 2024: VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, is acquiring 89.9% of seven real estate companies with a total of eight properties from its parent company Branicks Group AG for a purchase price of around EUR 99 million as part of a share deal. The eight properties generate annualized rents of around EUR 13 million. The transaction further strengthens VIB's successful, value-generating positioning and rental income. On 14 March 2024, VIB published results for the financial year based on preliminary figures that were above the previous year's level and at the upper end of the communicated target. "The substantial rental income from the acquired assets will help us to achieve a positive performance in 2024 as well," commented Dirk Oehme, Speaker of the Board of VIB Vermögen AG, on the transaction. The publication of the annual and consolidated financial statements and the annual report for the 2023 financial year is scheduled for 30 April 2024.
Alongside direct acquisitions, VIB's broad-based business model also comprises the entire spectrum of project development and redensification projects as part of a "develop-or-buy-and-hold" strategy: on the one hand, VIB Vermögen AG acquires properties that have been let already, and on the other hand, it develops new properties from the ground up in order to permanently incorporate these into its own portfolio and generate rental income from them. Also, selective disposals are part of the business strategy. In addition, VIB offers comprehensive property management services and solutions for institutional investors and holds interests in companies with real estate assets.
26.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | VIB Vermögen AG |
| Tilly-Park 1 | |
| 86633 Neuburg/Donau | |
| Germany | |
| Phone: | +49 (0)8431 / 9077 961 |
| Fax: | +49 (0)8431 / 9077 1961 |
| E-mail: | anja.landes-schell@vib-ag.de |
| Internet: | www.vib-ag.de |
| ISIN: | DE000A2YPDD0 |
| WKN: | A2YPDD |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange |
| EQS News ID: | 1867579 |
| End of News | EQS News Service |
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1867579 26.03.2024 CET/CEST
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