DGAP-News: Godewind Immobilien AG / Key word(s): Acquisition
16.10.2018 / 16:57
Godewind Immobilien AG acquires first commercial properties worth approx. EUR 73.5 million
Frankfurt am Main, 16 October 2018 – Godewind Immobilien AG (ISIN: DE000A2G8XX3, ticker symbol: GWD, Godewind), a real estate company specialising in German commercial property, has agreed to acquire its first commercial properties. This ‘asset deal’ acquisition relates to two office complexes, one in Frankfurt and one near Dusseldorf-Airport, with a total rental area of around 29,300 square metres. The total purchase price amounts to around EUR 73.5 million or an average of EUR 2,505 per square meter. The closing of the transaction is expected by the end of this year.
Properties with a gross initial yield of 5.7 percent and potential for value appreciation
Financing mix and structural expansion open up further growth potential for Godewind
Progress has also been made in terms of further expanding the corporate structure. For example, Godewind has brought further distinguished property experts on board. Jan Ohligs, who was previously responsible for the property business in Germany, Austria and Switzerland at American investment bank Jefferies, has been appointed Head of M&A at Godewind. The new Head of Asset Management is Marcus Sälinger, who was previously in charge of asset management at Principal Real Estate Europe. These appointments will help drive forward ongoing growth at Godewind.
Outlook: further acquisitions in the pipeline
The new acquisitions will be funded using the planned financing measures and the company’s remaining cash in hand.
Stavros Efremidis, CEO of Godewind Immobilien AG: ‘Following our IPO, we have now managed to acquire the first attractive office complexes, which boast significant potential for value appreciation. We will maximise this potential by means of our proactive portfolio management. This most recent acquisition will herald further such transactions in the near future, our aim being to significantly increase our portfolio volume by the end of the year.’
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 (FWB).
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These materials are for informational purposes only and are not intended to constitute, and should not be construed as, an offer to sell or subscribe for, or the announcement of a forthcoming offer to sell or subscribe for, or a solicitation of any offer to buy or subscribe for, or the announcement of a forthcoming solicitation of any offer to buy or subscribe for, ordinary shares in the share capital of Godewind Immobilien AG (the “Company”) and such shares (the “Shares”) in the United States or in any other jurisdiction.
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|Company:||Godewind Immobilien AG|
|60313 Frankfurt am Main|
|Phone:||+49 (0) 69 257375 192|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|