QuickView: Offer to create bigger commercial property player
Demire (DMRE) refocused its business in 2012 from Eastern Europe to Germany, where it now has a commercial portfolio of €700m generating rental income of €52.3m, having doubled in size in 2015. The proposed acquisition of Fair Value REIT (FVI), which has been recommended by FVI’s board, would add a further €306m of investment property and €25.4m of income, and reduce DMRE’s LTV. The deal would also give DMRE shareholders access to growth through FVI’s closed-end fund investment platform. Holders of 41.9% of FVI shares and voting rights had accepted the offer as of 4 November.DEMIRE Deutsche Mittelstand Real Estate is an investor and portfolio manager of commercial real estate in Germany. Key business processes include the acquisition, management and leasing of real estate and real estate development. Co.'s activities are divided into three business segments: Investments, Asset Management and Core Portfolio. The Investments segment comprises the real estate portfolios in Eastern Europe and the Black Sea region. The Asset Management segment provides services for the management of land and real estate. The Core Portfolio segment includes the domestic subsidiaries that are focused on German commercial real estate.
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