Hamborner still has up to €80mn for acquisitions
Hamborner REIT’s rental and leasing income rose in the first quarter by 3.6% to around €21mn. FFO increased by 5.1% from the previous year’s period to €12.2mn, and the period surplus by 3.2% to around €3.6mn. LTV fell by half a percentage point and now stands at 42%. Hamborner just recently acquired part of the “Der Dornhof” office project in Neu-Isenburg. The IT provider UBL will be the property’s main tenant for at least twelve years. The REIT will then still have between €60mn and €80mn for further acquisitions. The company has stated in its quarterly report that it intends to focus more strongly on modern office properties, as well as large-scale neighborhood retail centers and retail parks.
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