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Acquisition of Property Located at Ørbækvej 232, 5220 Odense SØ, Denmark
Globenewswire· 2025-11-20 09:59
Acquisition Details - A specially purpose vehicle (SPV) has acquired a property located at Ørbækvej 232, 5220 Odense SØ, Denmark for EUR 3,358,000 (DKK 25,050,000) excluding acquisition costs, with ownership transfer effective as of 31 December 2025 [1] - The acquisition is fully financed by Ringkjøbing Landbobank [1] Lease Agreement - The property is leased to Burger King (Nordic Service Partners A/S) under a non-terminable lease agreement running until 1 October 2036, providing an annual net rental income of approximately EUR 215,000 (DKK 1,600,000) [2] - Following final registration, the SPV will be a 100% owned subsidiary of German High Street Properties A/S [2]
Planned acquisition of Property Leased to Burger King, Odense, Denmark
Globenewswire· 2025-11-07 14:55
Core Viewpoint - The company plans to acquire a property leased to Burger King in Odense, Denmark, which is expected to enhance its presence in the Nordic real estate market and provide a stable income stream through a long-term lease agreement [1][4]. Group 1: Property Details - The property is a modern building constructed in 2008, with a total area of 616 m², including a service yard [2][4]. - It is located in a prime retail area in Odense SØ, surrounded by major retailers such as Bilka, Føtex, Netto, Ikea, Power, McDonald's, Carl's Jr., Rosengård Center, and Jysk [4]. Group 2: Financial Summary - The purchase price for the property is approximately EUR 3.35 million (DKK 25.1 million) [3][4]. - The total investment required is approximately EUR 3.55 million (DKK 26.5 million) [3][4]. - The annual gross rental income is expected to be around EUR 226,000 (DKK 1,689,000), while the annual net rental income is projected at approximately EUR 215,000 (DKK 1,600,000) [3][4]. - The expected yield from this investment is approximately 6.4% before financing [3][4]. - Financing for the acquisition, excluding acquisition costs, is anticipated to be fully provided by Ringkjøbing Landbobank [3][4]. Group 3: Strategic Rationale - The acquisition aligns with the company's strategy to strengthen its presence in the Nordic real estate markets, indicating a focus on long-term growth and stability [4].