DGAP-News: Godewind Immobilien AG / Key word(s): Financing/Real Estate
19.02.2019 / 07:30
Godewind Immobilien AG successfully concludes financing for office properties in Frankfurt, Dusseldorf and Hamburg
Frankfurt, 19 February 2019 – Godewind Immobilien AG (ISIN: DE000A2G8XX3, trading symbol: GWD, Godewind), a company specializing in German office real estate, has signed its first new EUR 82 million loan agreement for three assets of its office real estate portfolio. The loan has a total term of five years and serves to refinance the properties ComConCenter in Frankfurt, Airport Business-Center in Dusseldorf and Pentahof in Hamburg, which were acquired at a gross purchase price of EUR 142.4 million. The financing was underwritten by DZ HYP AG. With the acquisition of the Frankfurt Airport Center, which was already acquired in November 2018 at a gross purchase price of EUR 168.3 million, an existing financing of EUR 88 million with an interest rate of 1.87 percent was taken over.
Favorable financing costs of around 1.09 percent
Market environment on the capital market opens up additional potential for further attractive financing transactions
With the exception of the Quartier am Zeughaus and the Herzog-Terrassen, which are expected to be closed by the end of March, all transactions have already been closed. The ComConCenter in Frankfurt was already closed on 31 October last year, Airport Business Center in Dusseldorf on 30 November 2018, Sunsquare near Munich on 15 December 2018 and Frankfurt Airport Center on 28 December 2018. Pentahof in Hamburg and Eight Dornach near Munich were closed on 31 January and Y2 in Frankfurt on 13 February this year.
Following the recent acquisitions with a total gross purchase volume of around EUR 740 million, Godewind also plans to further optimize its existing assets and expand its portfolio of commercial properties. With a purchased vacancy rate in the overall portfolio of currently around 28 percent, which corresponds to an area of around 75,500 square metres, the portfolio has significant organic value growth potential.
About Godewind Immobilien AG
Based on its internal portfolio and asset management, Godewind Immobilien AG will manage commercial properties cost-effectively, enter into long-term tenancy agreements and thus increase its enterprise value. The company has tax loss carry-forwards for corporation and trade tax, as well as a tax-free capital reserve. The shares in Godewind Immobilien AG are traded in the Prime Standard segment on the Frankfurt Stock Exchange (XETRA).
For more information, please visit https://www.godewind-ag.com
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|Company:||Godewind Immobilien AG|
|60329 Frankfurt am Main|
|Phone:||+49 (0) 69 2713973213|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|