DGAP-News: VIB Vermögen lets some 6,500 square metres at Interpark to a leading South Korean conglomerate

Corporate news

VIB Vermögen lets some 6,500 square metres at Interpark to a leading South Korean conglomerate

Neuburg/Danube, August 01, 2018 - VIB Vermögen AG will complete two in-house developments - one in Vaihingen an der Enz and one at Kopernikusstrasse 2 at Interpark - on time and on budget as of September 01, 2018. Following the successful marketing of the last-remaining free space, both properties will enter the portfolio fully let.

Kopernikusstrasse 2 at Interpark, a superb logistics location with excellent transport links, has approximately 13,700 square metres of rental space and an investment volume of around EUR 9.8 million. Construction began with the pre-letting of around 7,200 square metres, with the tenant a medium-sized production company. A logistics facility in Vaihingen an der Enz was built for the same tenant with some 11,800 square metres of rentable space and an investment volume of approximately EUR 10.9 million.

Prior to completion, VIB Vermögen AG has successfully let the roughly 6,500 square metres of remaining space at Kopernikusstrasse 2, Interpark, to a leading South Korean conglomerate, meaning that both properties are now fully let on a long-term basis.

Together, the two properties boast some 25,500 square metres of rentable space and will generate an average initial yield of about 7.7 per cent on an investment volume of around EUR 20.7 million.

"The fact that both properties have been fully let prior to completion underscores not only the highly attractive nature of the two locations, but also the considerable in-house development expertise of VIB Vermögen. Our burgeoning site pipeline will continue to enable us to focus on - and successfully implement - in-house developments," explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.

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/Danube Email: petra.riechert@vib-ag.de

Profile of VIB Vermögen AG (including BBI Immobilien 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.