Branicks Group AG / DE000A1X3XX4

Branicks Group AG sells former Kaufhof department store in Leverkusen

Branicks Group AG / Key word(s): Disposal/Real Estate


15.11.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Frankfurt am Main, 15 November 2023 Press release by Branicks Group AG     Property to transfer to a development company of the City of Leverkusen Sold out of the proprietary stock held in the Commercial Portfolio Disposal ties in with the “Performance 2024” action plan to focus on the logistics and office asset classes   Branicks Group AG (“Branicks”, ISIN: DE000A1X3XX4), one of Germany’s leading listed property companies, announced the disposal of a property in downtown Leverkusen today. Extending over about 20,400 sqm of fully occupied retail space, the premises are part of the former Kaufhof area, a high-street department store in the inner city. It is currently let to Dortmunder TEH Textilhandel GmbH (Modehaus aachener clothing store). The buyer is a subsidiary of Stadtteilentwicklungs- und Projektgesellschaft Leverkusen mbH, a development company owned by the City of Leverkusen. Branicks has now notarised a total disposal volume of c. EUR 145 million across its segments since the beginning of the year.   “The transaction is yet another step in the implementation of our ‘Performance 2024’ action plan, showing how we, even in a tough environment, identify and exploit opportunities one at a time as they present themselves on the market. By disposing of this retail property, we also keep honing our strategic focus on the logistics and office asset classes,” said Sonja Wärntges, CEO of Branicks.   Branicks had acquired the three-storey building at Wiesdorfer Platz 82 with its retail area of about 14,500 sqm and about 5,900 sqm of storage space for its Commercial Portfolio in 2007.
  About Branicks Group AG Branicks Group AG (formerly DIC Asset AG) is Germany’s leading listed specialist for office and logistics real estate with 25 years of experience on the real estate market and with access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 355 assets with a combined market value of EUR 13.9 billion on site, always close to our properties and their occupiers. The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales. In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields. For more details, go to branicks.com.     PR Contact Branicks Group AG: Stephan Heimbach Neue Mainzer Strasse 32-36 D-60311 Frankfurt am Main Phone [phone] [e-mail]   IR Contact Branicks Group AG: Jasmin Dentz Neue Mainzer Strasse 32-36 D-60311 Frankfurt am Main Phone [phone] [e-mail]

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15.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language:	English
Company:	Branicks Group AG
	Neue Mainzer Straße 32-36
	60311 Frankfurt am Main
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.branicks.com
ISIN:	DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9
WKN:	A1X3XX, A12T64, A2GSCV, A2NBZG
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID:	1773389

End of News	EQS News Service

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1773389  15.11.2023 CET/CEST