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  • REITs: News view
    and complete the conversion on 1 January As a REIT we shall be more attractive to shareholders and in particular to private and institutional investors that are themselves tax exempt the members of the Management Board Dr Rüdiger Mrotzek and Hans Richard Schmitz are quoted in the Hamborner announcement Since the business model complied with REIT requirements in many respects anyway the company does not have to refocus its activities

    Original URL path: http://reits-in-deutschland.de/en/markets/news-view/news/2414/1/19.html?no_cache=1 (2016-02-17)
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  • REITs: News view
    64 000 square metres which is the same as in 2007 Exhibitors are more cost aware and in some cases are booking smaller spaces according to Messe München The number of participants from Russia the Gulf states and the USA is down The increased involvement of Russian and Arab exhibitors was one of the main drivers of the boom in the trade fair in 2007 and 2008 A more in

    Original URL path: http://reits-in-deutschland.de/en/markets/news-view/news/2362/1/19.html?no_cache=1 (2016-02-17)
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  • REITs: News view
    is determined taking two elements into account the current business situation and expectations It is based on a regular survey of 1 000 market participants carried out by market research company BulwienGesa on behalf of real estate consultants King Sturge According to the study the reason for the improvement in the investment climate is better conditions for acquisition and investment decisions It continues to say that some real estate markets

    Original URL path: http://reits-in-deutschland.de/en/markets/news-view/news/2303/1/19.html?no_cache=1 (2016-02-17)
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  • REITs: News Archive
    conducted last year 10 06 2009 Hamborner can become a REIT The Annual General Meeting has approved the changes needed to the Articles of Association to allow the conversion by a large majority 02 06 2009 Crisis hits leading trade fair Expo Real 2009 will probably be a smaller affair than in 2008 However organisers say that the fall in booking figures has been limited 07 04 2009 Study mood is improving If you believe the current King Sturge Real Estate Economy Index the mood in the property sector is continuing to brighten 25 02 2009 Developers suffering under the credit crunch Experts estimate that the German real estate industry will continue to be hit hard by the financial crisis until at least the end of this year 15 01 2009 Slump in transaction volume at real estate companies The volume of properties bought and sold by the major listed real estate companies in Germany stood at around EUR 4 2 billion in 2008 down by around half on the figure reported for the previous year 16 12 2008 According to Christian Ulbrich Head of Jones Lang LaSalle JLL Germany 2009 will be a difficult year for the real estate industry 09 12 2008 Buying preferred Buying instead of selling property this was the key finding of a survey of managers working in Germany s real estate sector 27 11 2008 REIT legislation solution for double taxation and equity The final draft of the Annual Tax Act 2009 includes changes to the framework conditions for German Real Estate Investment Trusts This should please Fair Value REIT AG in particular 19 11 2008 Fewer residential properties more commercial real estate According to the Federal Statistics Office the number of building permits for residential property is falling in Germany However the situation

    Original URL path: http://reits-in-deutschland.de/en/markets/news-archive.html?no_cache=1 (2016-02-17)
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  • REITs: News View
    a capital increase to an extraordinary General Meeting to be convened for this purpose advised Deutsche Wohnen Accordingly the company is aiming to achieve an issuance volume of EUR 250 million The capital increase is to take place in the second half of 2009 Based on the current share price of around EUR 10 this means that Deutsche Wohnen would like to issue some 25 million new shares which would

    Original URL path: http://reits-in-deutschland.de/en/companies/news-view/news/2412/1/18.html?no_cache=1 (2016-02-17)
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  • REITs: News View
    a compensation payment at one subsidiary The company points out that as a result of new lettings the occupancy level was increased to 95 2 of Fair Value s potential rent As at 31 December 2008 the occupancy rate was 94 9 At the same time tenancy agreements expiring in the first quarter of the financial year were more than offset by extensions and renewals of tenancy agreements The company which invests primarily in office logistics and retail property in regional centres in Germany generated net rental income of EUR 1 8 million EUR 2 8 million The lower result was attributable to lower revenues higher real estate operating costs up EUR 0 5 million year on year as a result of increased maintenance and energy costs as well as deferred operating costs After general administrative expenses other operating income and expenses and the valuation result Fair Value REIT reported operating results of EUR 1 3 million EUR 1 9 million Fair Value REIT AG also generated earnings totalling EUR 0 5 million EUR 0 4 million through its participating interests in eight closed end property funds Net interest expenses reduced considerably to EUR 1 1 million EUR 1 7 million In total the financial result in the first quarter amounted to EUR 1 3 million EUR 1 9 million Consolidated net income rose 22 4 to EUR 0 4 million EUR 0 3 million The results at Fair Value REIT were also depressed by the market valuations of the real estate portfolio with the write downs totalling EUR 0 9 million The company pointed out that net of these non recurring effects consolidated net income amounted to EUR 1 3 million The operating indicator funds from operations FFO stood at EUR 0 3 million EUR 0 6 million The

    Original URL path: http://reits-in-deutschland.de/en/companies/news-view/news/2360/1/18.html?no_cache=1 (2016-02-17)
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  • REITs: News View
    operating costs increased to EUR 2 1 million EUR 1 0 million due to the modernisation of office space resulting from lettings in the last quarter of 2008 in particular Net rental income stood at EUR 23 6 million for the period January to March compared to EUR 22 4 million in the first quarter of 2008 Thanks to the efficiency programme introduced at the beginning of last year administrative expenses of EUR 3 2 million EUR 3 5 million were reduced from 14 7 of total income to 12 3 The Hamburg based company reported that funds from operations FFO fell from EUR 9 0 million to EUR 8 0 million due to increased financing costs and additional real estate operating costs The office property company had to recognise significant write downs on its property portfolio The company attributes the technical impairment of the portfolio amounting to EUR 8 2 million to the increase in the real estate transfer tax rate in Hamburg by one percentage point to 4 5 A further EUR 3 8 million in write downs related to capitalised expenses for new lettings EUR 3 4 million and subsequent acquisition and manufacture costs The charge from the revaluation of financial derivatives dropped to EUR 1 3 million EUR 1 7 million Compared to the previous year the net financial result deteriorated from EUR 11 6 million to EUR 12 6 million Below the line the consolidated net loss for the period stood at EUR 5 5 million profit of EUR 6 3 million The company puts earnings per share at EUR 0 10 compared to EUR 0 11 in the first quarter of the previous year alstria office REIT AG has confirmed its guidance for 2009 as a whole with forecast annual revenues of EUR 103

    Original URL path: http://reits-in-deutschland.de/en/companies/news-view/news/2359/1/18.html?no_cache=1 (2016-02-17)
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  • REITs: News Archive
    by a large majority 02 06 2009 Fair Value REIT increases results Rental income at the commercial property company was down by 13 0 in the first three months of 2009 to EUR 2 6 million 02 06 2009 alstria office REIT confirms targets for 2009 In the first quarter of 2009 the office property group reported a loss of EUR 5 5 million due to portfolio write downs 02 06 2009 Hamborner wants to be third REIT AGM of the Duisburg property company is to clear the way for conversion with effect from 1 January 2010 24 02 2009 According to the provisional figures for the annual financial statements 2008 the consolidated net profit of DIC Asset AG should stand at about EUR 25 million 14 01 2009 Squeeze out at Francono Rhein Main Majority shareholder Grainger is seeking a full takeover of the residential property company and intends to squeeze out the minority shareholders in return for a settlement 12 12 2008 CRE and Vivacon trim down Colonia Real Estate AG CRE is divesting itself of business divisions Housing specialist Vivacon is also introducing a drastic cost cutting programme in response to weak business levels 27 11 2008

    Original URL path: http://reits-in-deutschland.de/en/companies/news-archive.html?no_cache=1 (2016-02-17)
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