Hamborner sees potential for up to €100mn in acquisitions
Hamborner REIT increased its FFO in 2018 by 18% to just under €53mn and rental income by 13% to €83.4mn according to provisional figures. Net income for the year showed a slight increase to €19.4mn. The company acquired five properties for a total of €124mn. In addition, the portfolio’s revaluation resulted in a like-for-like profit of €40mn. In all, the portfolio grew by 11% to around €1.5bn. Hamborner has proposed a dividend increase of 2.2% to 46 cents per share, and anticipates 47 cents per share for the year ahead. The company expects FFO to remain at the same level for 2019, and sees room for acquisitions ranging from €80mn to €100mn. Revenues are expected to rise after the completion of two office properties in Aachen and Cologne in 2020.
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