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    HAB   DE0006013006

HAMBORNER REIT AG

(HAB)
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PRESS RELEASE : HAMBORNER REIT AG acquires office property in Stuttgart and sells two further high-street retail properties

07/22/2021 | 12:01pm EDT
DGAP-News: HAMBORNER REIT AG / Key word(s): Real Estate/Acquisition 
HAMBORNER REIT AG acquires office property in Stuttgart and sells two further high-street retail properties 
2021-07-22 / 18:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
 
PRESS RELEASE 
HAMBORNER REIT AG acquires office property in Stuttgart and sells two further high-street retail properties 
- Acquisition of a 'manage-to-core' property with attractive appreciation potential 
- Further reduction of city centre retail property portfolio share 
- Ongoing reinvestment of sales proceeds 
Duisburg, 22 July 2021 - HAMBORNER REIT AG today has signed the purchase agreement for an office property in Stuttgart. 
The acquired property is a multi-tenant office building constructed in the 1990s at the established 'Wallgraben' office 
and business site in the Vaihingen district. The location offers outstanding infrastructure access, consistently low 
vacancy rates and a steady rise in demand for office space. 
The office property has approximately 5,900 m² of flexible rental space and high quality of features, which is to be 
enhanced further by selective modernisation work inside and out. The renovations will be carried out in line with the 
company's sustainability strategy and include upgrading the façade and modernising the technical building facilities. 
The property currently has an occupancy rate of around 93% with an average remaining lease term of approximately 2.4 
years. Given the forthcoming letting requirements in the short to medium term, the property has substantial potential 
for appreciation. This potential is to be leveraged on the basis of a comprehensive re-letting concept in line with the 
'manage-to-core' approach. 
"The office property in Stuttgart is an excellent addition to our manage-to-core portfolio currently in composition. 
Given the dynamic development of the location and the building's existing quality, we are confident of the success of 
our re-letting activities and of sustainably increasing the value of this property," said Niclas Karoff, CEO of 
HAMBORNER REIT AG. 
The gross initial yield on the investment is 5.1%. The parties to the transaction have agreed not to disclose any 
further details at this time. Payment of the purchase price and transfer of ownership of the property are provisionally 
scheduled for the third quarter of 2021. 
At the same time as this acquisition, HAMBORNER has systematically continued the optimisation of its property portfolio 
and further reduced its share of high-street retail properties. This month, the company has signed contracts to sell 
two further two high street stores. 
These are the city centre properties in Langenfeld and Offenburg, which were acquired in 2011 and currently contribute 
around EUR1.6 million to the company's annual rental income. 
The total sale price is around EUR23.3 million, which is around 1% higher than the market value and around 18% higher 
than the residual carrying amount of the properties as at 31 December 2020. The properties are expected to be 
transferred to the buyers in the third quarter of 2021. 
ABOUT HAMBORNER REIT AG 
HAMBORNER REIT AG is a public company listed in the SDAX that operates exclusively in the property sector and is 
positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income 
on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around EUR1.5 
billion. The portfolio focuses on modern office properties at established locations as well as attractive local supply 
properties as large-scale retail assets, retail parks and DIY stores in major German cities and mid-sized centres. 
HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent 
and sustainably attractive dividend strategy and its lean and transparent corporate structure. The company is a 
registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level. 
CONTACT 
Christoph Heitmann 
Head of Investor & Public Relations 
Tel.: +49 (0)203 54405-32 
Mail: c.heitmann@hamborner.de 
Web: www.hamborner.de 
=---------------------------------------------------------------------------------------------------------------------- 
2021-07-22 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. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      HAMBORNER REIT AG 
              Goethestraße 45 
              47166 Duisburg 
              Germany 
Phone:        0203/54405-0 
Fax:          0203/54405-49 
E-mail:       info@hamborner.de 
Internet:     www.hamborner.de 
ISIN:         DE000A3H2333 
WKN:          A3H233 
Indices:      SDAX 
Listed:       Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1221043 
 
End of News   DGAP News Service 
=------------ 

1221043 2021-07-22

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1221043&application_name=news 
 

(END) Dow Jones Newswires

July 22, 2021 12:00 ET (16:00 GMT)

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Financials
Sales 2021 105 M 123 M 123 M
Net income 2021 52,9 M 62,0 M 62,0 M
Net Debt 2021 647 M 758 M 758 M
P/E ratio 2021 19,0x
Yield 2021 4,80%
Capitalization 771 M 905 M 904 M
EV / Sales 2021 13,5x
EV / Sales 2022 16,6x
Nbr of Employees 47
Free-Float 87,2%
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Number of Analysts 4
Last Close Price 9,48 €
Average target price 10,48 €
Spread / Average Target 10,5%
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Managers and Directors
Niclas Karoff Chief Executive Officer
Andreas Mattner Chairman-Supervisory Board
Christel Kaufmann-Hocker Member-Supervisory Board
Mechthilde Dordel Member-Supervisory Board
Dieter Rolke Member-Supervisory Board