Godewind Immobilien AG / Key word(s): Acquisition/Real Estate
31-Oct-2018 / 17:49 CET/CEST
Godewind Immobilien AG agreed upon the acquisition of an office complex in Frankfurt for a purchase price of EUR 168 million
Frankfurt, 31 October 2018. Godewind Immobilien AG, a real estate company specialising in German commercial properties (‘Godewind‘ ISIN: DE000A2G8XX3), has signed a purchase contract to acquire approximately 89.9 percent of an office building in Frankfurt within the framework of a share deal. The office complex has a total rental area of some 48,000 square metres. The purchase price for the entire property amounts to EUR 168 million. The transaction shall be closed by the end of the year.
Equity of around EUR 76 million is being used to finance the transaction. Existing financing of EUR 88 million, which also includes a reserve of EUR 27 million for capital expenditure and fittings, is to be taken over.
The contractually agreed rental income of the property amounts to approximately EUR 10.1 million per annum. The weighted average lease term (WALT) is around 6 years. The vacancy rate of the property amounts to around 18 percent.
|Company:||Godewind Immobilien AG|
|60313 Frankfurt am Main|
|Phone:||+49 (0) 69 257375 192|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|