VIB Vermögen AG optimizes portfolio by selling the 'Kinopark' cinema/retail park in Aalen

Corporate News

VIB Vermögen AG optimizes portfolio by selling the "Kinopark" cinema/retail park in Aalen

Neuburg/Danube, October 1, 2021 - VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, continues to persue its strategy of selective portfolio optimization in the retail segment with the sale of the "Kinopark" cinema/retail park in Aalen.

The property is a 10,200 square metres retail park with the Aalen cinema and Norma as anchor tenants. The purchaser is SWT Immobilien Verwaltungs GmbH from Rain/Lech. The parties have agreed not to disclose the purchase price.

"We are delighted to have found an experienced retail property portfolio holder in SWT, which will successfully further develop the location in the long term," explained Martin Pfandzelter, CEO of VIB Vermögen AG. "This transaction once again demonstrates the high value of our regional network for buying and selling properties."

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel.: +49 (0)8431 9077 952
Tilly-Park 1 Fax: +49 (0)8431 9077 929
86633 Neuburg/Danube, Germany Email: petra.riechert@vib-ag.de

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 25 years. It focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.