Corporate News

VIB Vermögen builds 11,000 square meters logistics hall in Nuremberg

Neuburg/Danube, November 17, 2020 - VIB Vermögen AG, a company specializing in the
development, acquisition and portfolio management of commercial real estate, is expanding its property in Nuremberg, Beuthener Straße by around 11,000 square meters by developing its own logistics hall.

The Grundig Industrial Park, which is very attractive for logistics companies, is located in the centre of Nuremberg, the heart of the Nuremberg metropolitan region. When it was originally acquired in 2012, the site had a rentable area of around 85,000 square meters. Following various extensions and the completion of the new hall, the total lettable area on the site will be almost 100,000 square meters. For the additional usable space of around 11,000 square meters, a long-term rental agreement has already been concluded with a tenant from the logistics sector with a good credit rating. The property will be handed over to the tenant at the end of this year.

'We are very pleased that this project development allows us to strengthen our presence in this attractive location in the Nuremberg metropolitan region, and that the completion of this project will allow us to further expand our logistics portfolio,' commented Martin Pfandzelter, CEO of VIB Vermögen AG.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel.: +49 (0)8431 9077 952
Tilly-Park 1 Fax: +49 (0)8431 9077 929
86633 Neuburg/Danube, Germany Email:

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for 25 years. It focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.