VIB Vermögen Acquires Bamberg Shopping Centre
News: Germany-focused real estate holding company VIB Vermögen has bought a shopping centre in Bischberg-Trosdorf near Bamberg, Germany, for EUR22.2mn (US$30.32mn). The centre covers an area of 13,770 square metres and houses 15 tenants, including Takko, Rofu Kinderland, Schuh Mücke and Kaufland. The property was built in 2012 and has an annual rental yield close to 7.4%. The acquisition has been funded with a loan as well as some proceeds from the mandatory convertible bond issued by the company in November 2013. The acquisition is in line with the company's strategy to strengthen its retail portfolio and focus on the logistics and retail sectors across the country, according to VIB Vermögen CEO Ludwig Schlosser.