Update: Progress on growth plans
Fair Value REIT (FVI) has announced further progress in its growth strategy, with the acquisition of a majority stake (c 52.8%) in a closed-end real estate fund (BBV08). The €8.4m cash investment uses proceeds from the €34.7m (net) equity increase in May. The terms of the acquisition add immediate value to FVI shareholders, enhancing EPRA NAV and underlying EPRA (or FFO) earnings per share. We estimate that leveraged investment of the remaining proceeds of the equity increase could lift annualised adjusted earnings by a further 41%.Fair Value Reit AG is a Germany-based real estate investment trust. The Company specializes in the acquisition, management and sale of commercially used property, including retail and office retail properties at secondary locations across Germany. The Company's wholly owned subsidiaries are GP Value Management GmbH, BBV 3 Geschaeftsfuhrungs-GmbH & Co KG, BBV 6 Geschaeftsfuhrungs-GmbH & Co KG, BBV 9 Geschaeftsfuhrungs-GmbH & Co KG, BBV 10 Geschaeftsfuhrungs-GmbH & Co KG and BBV 14 Geschaftsfuhrungs-GmbH & Co KG. Other subsidiaries include IC Fonds & Co Bueropark Teltow KG, IC Fonds & Co Forum Neuss KG, IC Fonds & Co Gewerbeportfolio Deutschland 13. KG and IC Fonds & Co SchmidtBank-Passage KG, among others.
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