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EQS-News: Branicks Group AG
/ Key word(s): Disposal/Real Estate
Frankfurt am Main, 17 November 2023 Press release by Branicks Group AG
Branicks Group AG sells two logistics properties in Neufahrn for c. EUR 80 million
Branicks Group AG (“Branicks”, ISIN: DE000A1X3XX4), one of Germany’s leading listed property companies, just announced the disposal of two logistics properties in Neufahrn near Munich to a foreign investor. The selling price was close to EUR 80 million. The deal is scheduled to be closed in late December 2023. The disposal brings Branicks up to a total of EUR 225 million in notarised property sales as the company approaches the projected year-end target of EUR 300 million to EUR 600 million in notarised sales (thereof EUR 300 million to EUR 500 million in assets sold out of the proprietary portfolio). Additional disposals before the end of the year are in planning.
The two assets sold represent properties of the warehouse/logistics type and have a total lettable area of around 72,800 sqm which is fully occupied. Their tenants are Imperial Logistics International and LIV (the SCHERM Group). The properties, which sit on adjacent lots on Lilienthalstrasse (Ludwig-Erhard-Strasse 7, Lilienthalstrasse 8) in the town of Neufahrn in Upper Bavaria and in the immediate vicinity of Munich Airport, had been held in the portfolio of VIB Vermögen AG, a subsidiary of Branicks, since 2007 and 2012, respectively.
“By selling these two properties that were completed in 1963 and 1964, respectively, we continue to shift our focus to younger, more energy- and climate-efficient properties in the logistics asset class. Moreover, we keep strengthening our consolidated accounts in line with our ‘Performance 2024’ action plan,” commented Sonja Wärntges, CEO of Branicks.
About Branicks Group AG Branicks Group AG (formerly DIC Asset AG) is Germany’s leading listed specialist for office and logistics real estate with 25 years of experience on the real estate market and with access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 355 assets with a combined market value of EUR 13.9 billion on site, always close to our properties and their occupiers. The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales. In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields. For more details, go to .
PR Contact Branicks Group AG: Stephan Heimbach Neue Mainzer Strasse 32-36 D-60311 Frankfurt am Main Phone 1569
IR Contact Branicks Group AG: Jasmin Dentz Neue Mainzer Strasse 32-36 D-60311 Frankfurt am Main Phone 1492
17.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Branicks Group AG |
| Neue Mainzer Straße 32-36 | |
| 60311 Frankfurt am Main | |
| Germany | |
| Phone: | 1492 |
| Fax: | 9399 |
| E-mail: | |
| Internet: | |
| ISIN: | DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9 |
| WKN: | A1X3XX, A12T64, A2GSCV, A2NBZG |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange |
| EQS News ID: | 1775567 |
| End of News | EQS News Service |
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1775567 17.11.2023 CET/CEST
