DGAP-News: VIB Vermögen AG

Corporate news

VIB Vermögen grows through two further in-house developments

Neuburg/Danube, October 4, 2017 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, is continuing to expand on the basis of targeted in-house developments. Firstly, work will get under way in the next few weeks to build a production facility on an existing portfolio site at Interpark near Ingolstadt. Secondly, the company has acquired a plot of land in Vaihingen/Enz, Baden-Württemberg, which is suitable for the construction of a logistics/light industry facility.

At Interpark near Ingolstadt, a logistics/light industry facility measuring approximately 13,500 square metres will be built on the reserved plot at Kopernikusstrasse 2. Some 50% of the total useful area has been let on a long-term basis prior to construction, with completion of the production facility scheduled for the end of the third quarter of 2018. The total investment volume for the property amounts to approximately EUR 10 million.

The approximately 26,300 square metres plot newly acquired by VIB in Vaihingen/Enz, Baden-Württemberg, will be developed in the form of a logistics/light industry facility measuring approx. 10,400 square metres. This property has also been let on a long-term basis prior to construction. The total investment volume here is around EUR 8.8 million, with completion and handover planned for the third quarter of 2018.

Tenant of the object in Vaihingen and the subspace of the object in the interpark is a medium-sized production company with an excellent credit rating. The net initial yield of the two in-house developments will be roughly 8%.

"We are pleased to be able to continue our strategy of profitable growth on the basis of in-house developments. The fact that in both cases we have been able to conclude rental agreements prior to the construction phase pays testament to our excellent customer relations. The outstanding working relationship on the Interpark project has given rise to the exciting follow-up project in Vaihingen with the same tenant. We are therefore delighted to have added another strong member to our network of tenants," explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg/Donau
Germany
Tel. +49 (0)8431 9077 952
Fax: +49 (0)8431 9077 973
Email: petra.riechert@vib-ag.de

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 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.