25.02.2016
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DGAP-News: WCM Beteiligungs- und Grundbesitz-AG: WCM acquires further DIY store
DGAP-News: WCM Beteiligungs- und Grundbesitz-AG / Key word(s): Real Estate
WCM Beteiligungs- und Grundbesitz-AG: WCM acquires further DIY store
25.02.2016 / 08:45
The issuer is solely responsible for the content of this announcement.
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WCM acquires further DIY store
- Purchase price of around EUR 22 million with a leasable area of around
13,500 square metres
- FFO yield of 13 percent per year
- Long-term lease of 15 years from closing date
Frankfurt, 25 February 2016 - WCM Beteiligungs- und Grundbesitz-AG (WCM AG,
ISIN: DE000A1X3X33) announces the acquisition of a further DIY store near
Stuttgart, in one of Germany's most economically powerful regions. The
transaction, which had been announced in mid-December 2015, was notarised
yesterday. Closing of the transaction is scheduled for the end of the first
quarter of 2016.
The purchase price for the fully leased asset to a leading DIY store
operator, is around EUR 22 million. The required equity for the acquisition
will be provided from available funds. The debt component has already been
fixed with a ten-year term at attractive conditions. The average interest
rate for the total portfolio is at favourable 2.1 percent.
The 2012 constructed "green building" flagship store with certified low
primary energy needs, has a total rental space of 13,500 square metres.
Annualised rental income is approximately EUR 1.6 million. The rental yield
on the net purchase price is calculated at 7.1 percent. Based on current
interest rates, the FFO yield (FFO = funds from operations) is around 13
percent per year. The lease has a 15-year term, starting on the closing
date. In addition, the tenant has three five-year options to extend the
lease.
Stavros Efremidis, CEO of WCM AG, explained: "Our dynamic portfolio
expansion continues in line with our strategy. By acquiring this asset, we
are showing once again, that we are able to secure attractive rental yields
and steady cash flows for our shareholders through our extensive network."
About WCM AG
WCM Beteiligungs- und Grundbesitz-AG (WCM AG), with headquarters in
Frankfurt am Main, is a specialised commercial real estate company. As a
real estate proprietor, the focus is on long-term rental of high-quality
office and retail properties in the major office locations in Germany.
Since the operational restart in 2014, WCM AG has focused on an extensive
network for the purchase of properties as well as on value-creating asset
management, in order to generate attractive long-term rental income and a
steady cash flow. In February 2016, the property portfolio comprised of
more than EUR 500 million. The company has extensive loss carry forwards in
corporate and commercial tax. Shares in WCM AG are listed in the Prime
Standard of Deutsche Börse and since 21st of December 2015 in the SDAX of
Deutsche Börse.
Press contact:
edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
+49 (0) 69-905505-51
[email protected]
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25.02.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: WCM Beteiligungsund Grundbesitz-AG
Bleichstr. 64-66
60313 Frankfurt am Main
Germany
Phone: +49 (0)30 8870 476-10
Fax: +49 (0)30 8870 476-20
E-mail: [email protected]
Internet: www.wcm.de
ISIN: DE000A1X3X33, SDAX
WKN: A1X3X33
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Stuttgart; Regulated Unofficial Market
in Munich
End of News DGAP News Service
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