DGAP-News 475 0 Kommentare WCM Beteiligungs- und Grundbesitz-AG: WCM acquires further retail portfolio with grocery chain as long-term anchor tenant

DGAP-News: WCM Beteiligungs- und Grundbesitz-AG / Key word(s): Real
Estate/Acquisition
WCM Beteiligungs- und Grundbesitz-AG: WCM acquires further retail portfolio
with grocery chain as long-term anchor tenant

27.09.2016 / 08:30
The issuer is solely responsible for the content of this announcement.

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WCM acquires further retail portfolio with grocery chain
as long-term anchor tenant

- Acquisition of four retail centres with rental space of 52,500 square
metres for EUR 66.5 million

- Annualised rental income of EUR 4.4 million and annualised Funds from
Operations (FFO) of around 3 million

- EPRA vacancy rate of 4 percent with leading grocery chain as anchor
tenant for all locations with a WALT of 12.3 years

- Portfolio value increases to around 645 EUR million

Frankfurt am Main, 27 September 2016 - WCM Beteiligungs- und Grundbesitz-AG
(WCM AG, ISIN: DE000A1X3X33) further expands its asset base through the
acquisition of a retail portfolio. In the federal states of Saxony-Anhalt,
Saxony and Brandenburg four retail centres were acquired with a total
rental space of 52,500 square metres for a net purchase price of EUR 66.5
million. With an EPRA vacancy rate of 4 percent the newly acquired
portfolio generates an annualised rental income of around EUR 4.4 million.
The implied gross initial yield is 6.7 percent. The acquisition will be
financed via a combination of existing cash and mortgage lending. The
target Loan-to-Value (LTV) is anticipated to be below 50 percent. The Funds
from Operations (FFO) amounts to around EUR 3 million, the resulting
sustainable FFO yield on the contributed equity amount stands at around 9
percent. The closing is expected before the year end.

Anchor tenant on all four locations is a leading self-service retail chain
with a share of 37 percent of the total rental income. The weighted average
lease time (WALT) for the anchor tenant stands at 12.3 years, for the newly
acquired portfolio at a total WALT of 7.4 years.

Through this acquisition WCM increases the portfolio value to around EUR
645 million with an annualised rental income of EUR 38.2 million and an
annualized FFO I of around 23 million. The weighted average lease time
(WALT) of WCM's portfolio stands at 9.2 years with a gross yield of 5.9
percent. WCM will continue the portfolio expansion in the forthcoming
months.

Stavros Efremidis, CEO of WCM: "We further strengthen our retail portfolio
through this NAV and FFO accretive acquisition. A purchase price multiple
of 15 in combination with a long-term committed anchor tenant is highly
attractive for WCM and its shareholders."

About WCM

WCM Beteiligungs- und Grundbesitz-AG (WCM AG), with headquarters in
Frankfurt am Main, is a specialised commercial real estate company. As a
real estate proprietor, the focus is on long-term rental of high-quality
office and retail properties in the major office locations in Germany.
Since the operational restart in 2014, WCM AG has focused on an extensive
network for the acquisition of properties as well as on value-creating
asset management, in order to generate attractive long-term rental income
and a steady cash flow. The portfolio has a gross asset value of clearly
more than EUR 600 million. The company has extensive loss carry forwards in
corporate and commercial tax. Shares of WCM AG are listed in the SDAX of
Deutsche Boerse since 21 December 2015.

Press contact:

edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
069-905505-51
wcm@edicto.de

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27.09.2016 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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Language: English
Company: WCM Beteiligungsund Grundbesitz-AG
Bleichstr. 64-66
60313 Frankfurt am Main
Germany
Phone: +49 (0)30 8870 476-10
Fax: +49 (0)30 8870 476-20
E-mail: h.hesse@wcm.de
Internet: www.wcm.de
ISIN: DE000A1X3X33
WKN: A1X3X33
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Stuttgart; Regulated Unofficial Market
in Munich, Tradegate Exchange

End of News DGAP News Service
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505779 27.09.2016