Corporate News

DGAP-News: Godewind Immobilien AG / Key word(s): Financing/Real Estate

07.05.2019 / 07:35
The issuer is solely responsible for the content of this announcement.

Godewind Immobilien AG successfully concludes financing for office properties in Frankfurt and Munich

  • Three loan agreements with total volume of EUR 76 million signed
  • Duration: four and five years
  • Average interest rate of the total portfolio amounts now to 1.38 percent

Frankfurt am Main, 7 May 2019 – Godewind Immobilien AG (ISIN: DE000A2G8XX3, trading symbol: GWD, Godewind), a company specializing in German office real estate, has signed three more loan agreements with a volume of EUR 76 million for the last three unleveraged assets in the office real estate portfolio. The loans serves to finance the properties ‘Y2’ in Frankfurt as well as ‘sunsquare’ and ‘Eight Dornach’ in Greater Munich, which were acquired for a total net purchase price of EUR 112.5 million. Last on 2 May this year another loan agreement with a volume of EUR 92 million for the ‘Quartier am Zeughaus’ in Hamburg was reported.

Favorable financing costs
The credit agreement for the ‘Y2’ in Frankfurt concluded an annuity loan of EUR 36 million at an attractive interest rate with a term of four years. For the ‘sunsquare’ and the ‘Eight Dornach’, two credit agreements were concluded at an attractive interest rate for a term of five years. The average interest rate of Godewind-Group amounts now to 1.38 percent. The transactions will contribute significantly to strengthening the future financial and earnings position of Godewind Immobilien AG as well as its ability to pay dividends.

All current properties of Godewind funded and closed
With this transaction, all acquisitions have now been closed and financed. The ‘Quartier am Zeughaus’ in Hamburg was closed last on 30 April this year and the ‘Herzogterrassen’ in Dusseldorf on 16 April. The ‘ComConCenter’ in Frankfurt was already closed on 31 October last year, the ‘Airport Business Center’ in Dusseldorf on 30 November 2018, the ‘sunsquare’ near Munich on 15 December 2018 and the ‘Frankfurt Airport Center’ on 28 December 2018. The ‘Pentahof’ in Hamburg and the ‘Eight Dornach’ near Munich were closed on 31 January, the ‘Y2’ in Frankfurt on 13 February this year. The financing volume for all assets totals around EUR 397 million.

Godewind will continue to optimize its existing assets and to further expand its portfolio of commercial properties. With a vacancy rate in the overall portfolio of currently around 26 percent, which corresponds to an area of around 70,000 square metres, the portfolio has significant organic value growth potential.

About Godewind Immobilien AG
Based in Frankfurt, Godewind Immobilien AG is a listed real estate company specialising in German office real estate. The company’s acquisition focus lies on building up an attractive real estate portfolio with a focus on office properties. As an active portfolio and asset manager, Godewind strives for sustainable increases in earnings and income, which are supplemented by the regular realisation of added value potential. Currently Godewind owns a secured or rather acquired office portfolio of around EUR 762 million. In the medium term, the aim is to build a commercial real estate portfolio of around three billion euros with the help of the company’s wide-ranging network and by means of value-added acquisitions.

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 (XETRA).

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Contact Details

Investor Relations Contact
Gunnar Janssen
Godewind Immobilien AG
Phone +49 69 27 13 97 32 13

Press Contact
Jan Hutterer
Kirchhoff Consult AG
Phone +49 40 60 91 86 65

This announcement is for information purposes only and does not constitute or should not be construed as an offer to sell or subscribe for, or an offer to sell or subscribe for, or an invitation to make an offer to buy or subscribe for, or an invitation to make an offer to buy or subscribe for, any common stock of Godewind Immobilien AG (the “Company” and such shares, the “Shares”) in the United States of America or any other jurisdiction.

07.05.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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