roadshow presentation - hamborner...retailing** large-scale retailing office / other * based on rent...
TRANSCRIPT
Roadshow Presentation
July 2012
Highlights equity raising
2
Deal terms
→ 3:1 Rights issue with tradable subscription rights
→ Any new shares which are not subscribed to in the context of the subscription offer will be offered for
purchase at the subscription price to qualified investors
Structure
Number of shares
Use of proceeds
Listing venue
Distribution
Syndicate
→ Up to 11,373,333 new shares
→ To provide financing for the acquisition of additional properties in accordance with Hamborner’s
investment strategy as well as to strengthen Hamborner’s capital base and financial soundness
→ Acquisition pipeline of approximately € 108 million
→ Stock exchanges of Frankfurt, Berlin, Düsseldorf, Hamburg, Munich and Stuttgart
→ Public offer in Germany and private placement in jurisdictions outside the United States of America,
Canada, Australia and Japan
→ Berenberg Bank (Sole Global Coordinator and Joint Bookrunner) → Kempen & Co (Joint Bookrunner)
Subscription price → € 6.50
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Timeline of equity issue
3
→ Ad-hoc announcement
→ Prospectus approval 29 June 2012
2 July 2012
3 July 2012
16 July 2012
18 July 2012
20 July 2012
→ Publication subscription offer in German Federal Gazette (Bundesanzeiger)
→ Start of subscription period and start of rights trading
→ End of subscription period
→ Registration of the capital increase with the commercial register
→ Settlement of all new shares
17 July 2012 → Announcement final take-up and rump placement (if any)
12 July 2012 → End of rights trading
Timeline
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Key investment highlights Creating sustainable shareholder value
Increasing portfolio quality
Robust financial position
Enhancing efficiency, increasing cash flow and dividend per share
Capital markets track record
Strong asset and portfolio management
4
Capturing German momentum
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
2 Increasing portfolio quality
Agenda
4 Robust financial position
5 Enhancing efficiency, increasing cash flow and dividend per share
8 Appendix
3 Strong asset and portfolio management
6 Capital markets track record
7 Outlook
5
1 Capturing German momentum
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Unemployment rate (%)
Well positioned to capture positive German momentum
GDP growth rate (%)*
Yields on 5-year government bonds (%)
Capturing German momentum
6
* Year-on-year change ** The Euro area comprises 17 Euro countries Source: Eurostat, Bloomberg
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
Germany
Euro area**
2013F 2012F 2011 2010 2009 2008 2007 2006
Inflation rate (%)*
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
2006 2007 2008 2009 2010 2011
Germany
Euro area**
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
2012 2011 2010 2009 2008 2007 2006
Spain
UK
Germany
France
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
2006 2007 2008 2009 2010 2011
Germany
>25 year
Euro area**
>25 year
Germany
<25 year
Euro area**
<25 year
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
2 Increasing portfolio quality
Agenda
4 Robust financial position
5 Enhancing efficiency, increasing cash flow and dividend per share
8 Appendix
3 Strong asset and portfolio management
6 Capital markets track record
7 Outlook
7
1 Capturing German momentum
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Balanced portfolio with 100% German focus Geographical portfolio spread Diversification of asset types (per 30 April 2012)
→ 67 properties in 51 cities in Germany, focus on West and
South
→ Total portfolio value of € 518 million
→ 1.4 million m2 of land plots (average value € 0.91/m2)
Schleswig- Holstein
Hamburg Bremen
Saarland
Berlin
Brandenburg
Annualised rental income (100% = € 36.4 million)*
Increasing portfolio quality
8
Lower Saxony
North Rhine- Westphalia
Hesse
Rheinland- Palatinate
Baden- Wuerttemberg
Bavaria
Mecklenburg- Western Pomerania
Saxony
Saxony- Anhalt
Thuringia
31%36%
33%
Highstreet/ retailing**
Large-scale retailing
Office / Other
* Based on rent roll April 2012 ** Predominantly retail properties, small proportion of office space and residential units The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Well defined acquisition strategy
Acquisition strategy Asset focus
→ Focus on quality properties, location and property strategy
determined by asset type:
→ Commercial buildings used for retail trade
(highstreet retail) in A1 sites (pedestrian zones),
nationally at locations with > 60,000 inhabitants
→ Self-service markets and self-service department
stores in town centre sites or highly frequented
edge-of-town sites, nationally at locations with >
60,000 inhabitants
→ Modern office buildings built or redeveloped from
the year 2000 onwards in town centre sites of cities
with > 100,000 inhabitants
→ Regional diversification in high growth regions in Southern
and South-West Germany
→ Focus on towns and cities outside the main metropolises
→ Focus on acquisitions of € 10 million – € 40 million
→ Improving cost/yield structures through acquisition of
larger properties and disposal of smaller properties
→ Off market deals
→ Diversified commercial real estate portfolio structure with clear yield-orientation
→ Creating value through continuous expansion of portfolio
→ Acquisition strategy and asset focus result in limited competition from other potential buyers
Increasing portfolio quality
9 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Type Useable area (m2) Expected annual rental income (€ million)
Investment (€ million)
Tübingen Retail 15,000 1.5 22
Karlsruhe Retail/Office 15,100 2.4 37
Berlin Office 12,700 2.1 32
Hamburg Retail 10,000 1.3 17
Total 52,800 7.3 108
Acquisition pipeline
Acquisition pipeline
Increasing portfolio quality
10
→ Hamborner has made indicative purchasing offers relating to these four properties
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Increasing regional diversification
Geographical portfolio spread Acquisitions in 2011*
Schleswig- Holstein
Hamburg
Lower Saxony
Bremen
North Rhine- Westphalia
Hesse
Rheinland- Palatinate
Baden- Wuerttemberg
Bavaria Saarland
Berlin
Brandenburg
Mecklenburg- Western Pomerania
Saxony
Saxony- Anhalt
Thuringia
Initial portfolio
Transferred in 2012
Transferred in 2011
Transferred in 2010
Notarised in 2011, transfer
of ownership later
→ 8 new properties comprising purchase price of € 122 million
→ Langenfeld (€ 16 million)
→ Bad Homburg (€ 14 million)
→ Offenburg (€ 8 million)
→ Freiburg (€ 11 million)
→ Agreements signed worth approx. € 55 million
→ Aachen (transfer of possession in April 2012)
→ Munich (expected transfer of possession in 2013)
13%
11%
50%
16%
10%
Baden- Wurttemberg
Bavaria North Rhine- Westphalia
Hesse
Saxony
→ Leipzig (€ 12 million)
→ Brunnthal (€ 12 million)
→ Erlangen (€ 28 million)
→ Regensburg (€ 21 million)
Acquisitions split by region*
34%40%
26%
2011 (100% = € 122 million) 2010 (100% = € 64 million)
Bavaria
Baden-Wurttemberg
North Rhine- Westphalia
Increasing portfolio quality
11 * Purchase prices excluding acquisition costs
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Improving margin through acquiring larger portfolios
Portfolio split by property value Average value per assets 2006-2011 (€ million)
27%
14%23%
36%
27%55%
6%12%
2006 (100% = € 186 million)
2011 (100% = € 504 million)
< € 3 million
€ 3-5 million
€ 5-10 million
> € 10 million
< € 3 million
€ 3-5 million
€ 5-10 million
> € 10 million
3.5
4.85.1
5.4
6.1
7.3
0
1
2
3
4
5
6
7
8
2006 2007 2008 2009 2010 2011
+108.7%
Increasing portfolio quality
12 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
2 Increasing portfolio quality
Agenda
4 Robust financial position
5 Enhancing efficiency, increasing cash flow and dividend per share
8 Appendix
3 Strong asset and portfolio management
6 Capital markets track record
7 Outlook
13
1 Capturing German momentum
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
High and stable occupancy
Occupancy rates
95.7% 98.2% 97.9% 96.5% 97.5% 98.2%
2006 2007 2008 2009 2010 2011
Strong asset and portfolio management
14 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Long-term leases with strong tenants
Split of lease contract expiry by year (30 April 2012) Top 10 tenants (30 April 2012, % of annual rent*)
Tenant
Kaufland Group
EDEKA
OBI
AREVA
SFC Energy
Telefonica O2
REWE
BfA
dm
Kaspersky
Total
12.8%
10.2%
7.7%
2.7%
2.5%
2.2%
2.2%
2.1%
2.0%
2.0%
46.4%
Weighted average lease expiry by type (30 April 2012, in years)
4.35.8
10.4
7.1
Office/
commercial
Highstreet/
retailing
Large scale/
retailing
Total
Sector
Discount food retail
Discount food retail
Retail (DIY)
Power & Utilities
Industrials/Energy
Telecommunication
Food retail
Government
Retail/Trade
Computer Software
Total
Strong asset and portfolio management
15
* Including rent guarantees
11% 6% 10%
70%
1%2%
2012 2013 2014 2015 2016 andlater
unlimited
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Benefitting from economies of scale
Portfolio value (€ million) and overhead cost margin* Room for growth
→ Internal management
→ Efficient organisation
→ Internal management
→ 2 board members
→ 23 employees**
→ Outsourcing of infrastructural
building services only
→ Room to substantially grow the portfolio
with limited marginal costs
186
281
273 308
376
504
0%
10%
20%
30%
40%
0
100
200
300
400
500
600
2006 2007 2008 2009 2010 2011
Portfolio value Overhead cost margin
Strong asset and portfolio management
16
* Personnel and administrative costs divided by income from rents and leases. Personnel costs are adjusted downward for one-off costs ** Per 30 April 2012 Source: Company
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
2 Increasing portfolio quality
Agenda
4 Robust financial position
5 Enhancing efficiency, increasing cash flow and dividend per share
8 Appendix
3 Strong asset and portfolio management
6 Capital markets track record
7 Outlook
17
1 Capturing German momentum
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Stable and predictable cost of debt
Expiration of fixed interest rates (per 31 March 2012, as % of total financial debt)
0% 0% 0% 0%2%
17% 17%
2%
28%
23%
11%
0%
5%
10%
15%
20%
25%
30%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
Expiration of fixed interest rates (as % of total financial debt)
Average of expiring fixed interest rates
→ Financial debt: € 218.5 million
→ Liquid funds: € 30.2 million
→ Average maturity of fixed interest
rates: 7.9 years
→ Average cost of debt: 4.46%
→ 100% of the debt is fixed/hedged
→ Banks:
→ Saving banks
→ Local banks
→ Cooperative banks
→ Other commercial banks
Robust financial position
18 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Low LTV, equity ratio well within REIT criteria
0.0%
28.1%
12.0%
22.9%19.3%
39.1%
0%
10%
20%
30%
40%
50%
60%
2006 2007 2008 2009 2010 2011
LTV Maximum target LTV (approx.)
Loan-to-value (%)*
→ Ratios per 31 March
2012:
→ LTV: 37.6 %
→ REIT-equity ratio:
56.8%
Robust financial position
19
* Cash exceeds debt in 2006
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Lower marginal funding costs
→ Munich (January 2012)
→ € 20.0 million for 10 years at 3.53%
fixed rate
→ Aachen (September 2011)
→ € 8.8 million for 10 years at 3.95%
fixed rate
4.77%
5.12%5.01%
4.56%4.48% 4.46%
2007 2008 2009 2010 2011 Q1 2012
Average cost of debt Examples of recent debt financing
Robust financial position
20 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
2 Increasing portfolio quality
Agenda
4 Robust financial position
5 Enhancing efficiency, increasing cash flow and dividend per share
8 Appendix
3 Strong asset and portfolio management
6 Capital markets track record
7 Outlook
21
1 Capturing German momentum
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
3.1 3.8 3.5 3.4 3.82.8
2006 2007 2008 2009 2010 2011
Development of rental income, overhead costs, and margin (€ million)
Increasing efficiency resulting in higher margins
Income from rents and leases Margin Overhead costs** Operating costs* – – =
+155%
7.9
13.716.4
18.7
24.5
8.0
2006 2007 2008 2009 2010 2011
+112% +34% +208%
Enhancing efficiency, increasing cash flow and dividend per share
13.2
19.722.5
25.0
32.2
12.6
2006 2007 2008 2009 2010 2011
2.2 2.3 2.5 2.9 3.91.8
2006 2007 2008 2009 2010 2011
22
* Operating costs include income from passing on incidental costs to tenants, current operating expenses and land and building maintenance ** Overhead costs include personnel and administrative costs . Personnel costs are adjusted downward for one-off costs Source: Company The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
0.15 0.17 0.17 0.2 0.2 0.2 0.22 0.22 0.24 0.24 0.27 0.27 0.27 0.3 0.3 0.3 0.3 0.35 0.03 0.02 0.03 0.03 0.03
'90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07
Dividend per share (€)
→ Hamborner allocates a dividend of € 0.40 for FY 2011
Increasing Funds From Operations and dividend per share
Funds From Operations (FFO) per share (€)
Dividend
Bonus
0.370.42
0.36
0.47
'08 '09 '10 '11
0.35
0.37 0.37
0.40
'08 '09 '10 '11
Enhancing efficiency, increasing cash flow and dividend per share
23
22.77 22.77 34.12 34.12 Number of shares (million)
FFO
per
sh
are
(€
)
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
2 Increasing portfolio quality
Agenda
4 Robust financial position
5 Enhancing efficiency, increasing cash flow and dividend per share
8 Appendix
3 Strong asset and portfolio management
6 Capital markets track record
7 Outlook
24
1 Capturing German momentum
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Historic market cap (€ million)
Growing market capitalization and increasing free float…
Overview events
→ 2007: Start of new strategy
→ 2010: Achievement of G-REIT status and change of
company name to HAMBORNER REIT AG
→ October 2010: Successful Capital Increase 2010: net
proceeds of approx. € 76 million
→ February 2011: Secondary placement of approx.
€ 89 million HSH stake
→ March 2011: SDAX index inclusion
→ March 2012: EPRA index inclusion
Shareholder structure**
5%3%
77%
6%
9%
Asset Value Investors Free float
Ruffer
Prof. Dr. Siegert
Allianz Global Investors
Capital markets track record
25
* Up to and including June 2012 ** Company information
131
185
265
218 235
20%
40%
60%
80%
100%
0
50
100
150
200
250
300
2008 2009 2010 2011 2012 YTD*
Market cap Free float**
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
2008 2009 2010 2011 201220
30
40
50
60
70
80
90
100
110
120
0
50
100
150
200
250
300
350
400
1.200Indexed Price Performance Volume (Thousands)
Hamborner REIT AG FTSE EPRA/NAREIT Germany
SDAX Hamborner volume
… resulting in increased liquidity
→ YTD share price performance*:
→ Hamborner: 8.4%
→ FTSE EPRA Europe: 8.9%
→ SDAX: 8.7%
Capital markets track record
26
Inclusion in EPRA-Index
Average turnover per day since 2009 (# shares) Total return since 2008
Remarks
* Up to and including June 2012 Source: Bloomberg
12,392
38,101
52,823
3,637
2009 2010 2011 2012 YTD*
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
2 Increasing portfolio quality
Agenda
4 Robust financial position
5 Enhancing efficiency, increasing cash flow and dividend per share
8 Appendix
3 Strong asset and portfolio management
6 Capital markets track record
7 Outlook
27
1 Capturing German momentum
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Summary & Outlook
FY 2011 & Q1 2012:
Positive operational business development
Rents and FFO increased, low vacancy
Profitable investments of funds from the capital increase in 2010
Allocation of dividend of € 0.40 for FY 2011
Inclusion in EPRA-Index since March 2012
Business year 2012:
The Managing Board is striving for a 10% increase in rental income from 2011 to 2012
The Managing Board intends to increase the FFO by 5% to 10% from 2011 to 2012
Outlook
28 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Key investment highlights Creating sustainable shareholder value
Increasing portfolio quality
Robust financial position
Enhancing efficiency, increasing cash flow and dividend per share
Capital markets track record
Strong asset and portfolio management
29
Capturing German momentum
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
2 Increasing portfolio quality
Agenda
4 Robust financial position
5 Enhancing efficiency, increasing cash flow and dividend per share
8 Appendix
3 Strong asset and portfolio management
6 Capital markets track record
7 Outlook
30
1 Capturing German momentum
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
in € thousand 2010 2011 Q1 2011 Q1 2012
Net rental income 22,124 28,244 6,434 8,275
Administrative expenses -811 -919 -215 -196
Personnel costs -2,564 -2,838 -656 -715
Amortisation / Depreciation -8,031 -10,523 -2,246 -2,956
Other operating income 2,534 1,769 213 201
Other operating expenses -724 -845 -244 -182
Operating result 12,528 14,888 3,286 4,427
Result from the sale of investment property 2,227 2,232 0 17
Earnings before interest and taxes (EBIT) 14,755 17,120 3,286 4,444
Financial result -6,308 -7,964 -1,554 -2,531
Net income for the period 5,669 7,865 1,732 1,913
Income statement (IFRS)
Income statement
Appendix
31 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
in € thousand FY 2010 FY 2011 Q1 2011 Q1 2012
Net rental income 22,124 28,244 6,434 8,275
- Administrative expenditure -811 -919 -215 -196
- Personnel costs - 2,564 -2,838 -656 -715
+ Other operating income 446 351 213 201
- Other operating expenses - 724 -845 -244 -182
+ Interest income 268 408 259 77
- Interest payments - 6,576 -8,372 -1,813 -2,608
FFO before taxes 12,163 16,029 3,978 4,852
FFO per share 0.36 0.47 0.12 0.14
Funds from operations
Funds from operations
12,16316,029
2010 2011
3,9874,852
Q1 2011 Q1 2012
Appendix
32
+32% +22%
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
in € million 31 December 2010 31 December 2011 31 March 2012
ASSETS
Non-current assets 322.1 435.6 435.8
Investment Properties 321.5 435.2 435.3
Other 0.6 0.4 0.5
Current assets 84.0 26.9 31.2
Trade receivables and other assets 0.4 2.7 1.0
Bank deposits and cash balances 83.6 18.7 30.2
Non current assets held for sale 0 5.5 0
Total assets 406.1 462.5 467.0
EQUITY & LIABILITIES
Equity 223.5 215.1 216.6
Financial liabilities and derivative financial instruments 164.1 228.9 232.4
Other liabilities and provisions 18.5 18.5 18.0
Total equity capital, liabilities and provisions 406.1 462.5 467.0
Balance sheet (IFRS)
Equity ratio 46.4%
Balance sheet
Appendix
33 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Net asset value (NAV)
in € million FY 2010 FY 2011 Q1 2012
Balance sheet long-term assets 322 436 436
+ Balance sheet short-term assets 84 26 31
- Non-current liabilities and provisions -151 -220 -223
- Current liabilities -23 -14 -14
Balance sheet NAV - 232 228 230
+ Hidden reserves long-term assets 66 71 74
NAV 298 299 304
NAV per share in € 8.74 8.77 8.92
8.92 7.60
Net asset value
31 March 2012
Share price
31 March 2012
Net asset value in accordance with EPRA Discount of the XETRA-closing price to NAV of 14.8% (31 March 2012)
Appendix
34
-14.8%
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
City Address Asset-Class Space in m² Rent p. year
in € thousand
Purchase price
in € million
Gross initial
yield
Bad Homburg Louisenstr. 53-57 Highstreet 3,232 849 13.7 6.3%
Brunnthal Eugen-Sänger-Ring 7 Office 6,721 912 12.0 7.6%
Leipzig Brandenburger Str. 21 Retail / DIY market 11,139 890 11.6 7.6%
Regensburg Hildegard-von-Bingen-Str. 1 Office/ Medical Practices 8,998 1,437 21.0 6.8%
Freiburg Lörracher Str. 8 Large Scale Retail 3,987 860 11.4 7.5%
Erlangen Allee-am-Röthelheimpark 11-15 Office / Retail 11,600 1,916 28.1 6.9%
Langenfeld Solinger Str. 5-11 Highstreet 6,295 1,147 16.3 6.6%
Offenburg Hauptstr. 72/74 Highstreet 5,150 520 7.9 6.6%
57,122 8,531 122.0
Latest investments
Transfer of possession in 2011
City Address Delivery Asset-Class Space in m² Rent p. year
in € thousand
Purchase price
in € million
Aachen Debyestraße April 2012 Retail / DIY market 11,431 1,020 approx. 16
München Domagkstraße 10 Q1 2013E Office approx. 12,000 2,294 approx. 39
Transfer of possession expected in 2012 and 2013
Appendix
35 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
36
Transfer of possession in 2011
Brunnthal
Eugen-Sänger-Ring 7
Bad Homburg,
Louisenstr. 53-57
Leipzig,
Brandenburger Str. 21
Built 2010 1985 2009
Main Tenant SFC Energy AG Naspa, Hussel, Hof Apotheke,… OBI
Leased Area approx. 6,700 m² approx. 3,200 m² approx. 11,000 m²
Annual Rental income € 912,490 € 849,000 € 889,527
Remaining term approx. 8.3 years approx. 3.4 years approx. 12.8 years
Gross initial yield 7.6 % 6.3 % 7.6 %
Purchase price € 12 million € 13.7 million € 11.6 million
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
37
Transfer of possession in 2011
Regensburg
Hildegard von Bingen Str. 1
Langenfeld
Solinger Str. 5
Erlangen,
Allee am Röthelheimpark 11-15
Built 2007 2011 2010/2011
Main Tenant different medical practices H&M, Tom Tailor, Depot, dm, and other Konsum, dm, Pfrimmer and other
Leased Area approx. 8,900 m² approx. 6,300 m² approx. 11,600 m²
Annual Rental income € 1.43 million approx. € 1.14 million € 1.92 million
Remaining term approx. 6.8 years approx. 9.3 years approx. 10.4 years
Gross initial yield 6.8 % 6.6 % 6.9 %
Purchase price € 21.0 million € 17.1 million € 28.1 million
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
38
Transfer of possession in 2011
Offenburg,
Hauptstraße 72-74
Freiburg,
E-Center
Aachen,
Debyestraße 20
Built 1973, reconstruction 2008/2009 2011 2012
Main Tenant Müller Drogeriemarkt EDEKA OBI
Leased Area approx. 5,100 m² approx. 4,000 m² approx. 11,400 m²
Annual Rental income approx. € 525,000 € 860,000 approx. € 1.2 million (Ø rental income)
Remaining term approx. 6.2 years 17.8 years 15 years
Gross initial yield 6.6 % 7.5 % 7.5 %
Purchase price € 7.9 million € 11.4 million € 15.97 million
…in April 2012
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
39
Already signed, transfer of possession expected in 2013
Munich,
NuOffice (under construction)
Built 2011/2013
Main Tenant n/a
Leased Area n/a
Annual Rental income approx. € 2.3 (expected)
Remaining term 8.8 years (expected)
Gross initial yield 5.9 % (expected)
Purchase price € 39.3 million (expected)
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Disposals
Krefeld, Krützpoort 1
Erfurt, Marktstr. 2 Erfurt, Neuwerkstr.
Erfurt, Marktstr. 7-9
Price € 900,000
Price € 5.6 million
Price € 2.6 million Plot approx. 1.0 million sqm Book value € 0.8 million Book profit € 1.8 million Rest approx. 1.4 million sqm Undeveloped land
Appendix
40
December 2011 September 2011
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
HAMBORNER REIT AG
Interim report for 1st half 2012 9 August 2012
Interim report for 3rd quarter 2012 8 November 2012
Annual general shareholders´ meeting 2013 7 May 2013
Financial Calendar
41 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Dr. Rüdiger Mrotzek – Member of the Board
T +49 (0)203 / 54405-55
Hans Richard Schmitz – Member of the Board
T +49 (0)203 / 54405-21
Sybille Schlinge – Investor Relations
T +49 (0)203 / 54405-32
Contact
42 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia
Disclaimer
This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities. Any such offer is being made solely on the basis of the Securities Prospectus published and registered with the German Financial Supervisory Authority (BaFin), and the rights offering. The information legally required to be provided to investors is contained only in the Securities Prospectus.
The information contained herein is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions or any State of the United States of America or the District of Columbia) and must not be distributed to U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended ("Securities Act")) or publications with a general circulation in the United States of America. This publication does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States of America. The securities have not been and will not be registered under the Securities Act and may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act, as amended. The Issuer does not intend to register any portion of the offering in the United States of America or to conduct a public offering of the Securities in the United States of America.
The shares that are the subject of the offer are not being offered or sold to any person in the United Kingdom, other than to qualified investors as defined in Section 86(7) of the Financial Services and Markets Act 2000, as amended from time to time, which includes legal entities which are regulated by the Financial Services Authority and entities which are not so regulated whose corporate purpose is solely to invest in securities and who also fall within the definition of "Investment Professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 (the "FPO") and high net worth entities falling within Article 49(2)(a) to (d) of the FPO.
This publication is not an offer of securities for sale in Canada, Japan or Australia.
43 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America, Canada, Japan or Australia