Real estate holding company VIB Vermoegen is planning new investments in commercial real estate for 2007 and is currently negotiating new high-yield investments amounting to a total volume of EUR 200 mln, the Bavaria-focused group has indicated in a press release.
Real estate holding company VIB Vermoegen is planning new investments in commercial real estate for 2007 and is currently negotiating new high-yield investments amounting to a total volume of EUR 200 mln, the Bavaria-focused group has indicated in a press release.
The German commercial investor will raise up to EUR 60 mln in rights issue in order to finance the new investments. VIB Vermoegen is planning to issue up to 4,896,000 shares, with an estimated proceeds of EUR 50-60 mln in a rights issue in March 2007. The rights are not tradable, but rights that haven't been subscribed to will be offered to institutional investors, the company said. The issue price of the new shares will be decided on March 5, 2007.