November 10, 2016 / 6:11 AM / 3 years ago

BRIEF-Hamborner REIT raises forecast for 2016

Nov 10 (Reuters) - Hamborner REIT AG :

* Enjoys successful nine months and raises forecast for current 2016 financial year

* Forecasts for full year 2016 raised

* Management board is now projecting growth in rental income of around 18 pct and an FFO increase of around 20 pct for FY

* Income from rents and leases for first nine months rose by 18.7 pct on previous year’s level to a total of 45.3 million euros ($49.55 million)

* FFO climbed by 20.9 pctin first three quarters to 26.5 million euros

* Rental income from properties that were in company’s portfolio in both first nine months of previous year and reporting period (like-for-like) similarly increased by 1.6 pct

* In September purchase agreement was concluded for “Rondo Steinheim” retail centre in Hanau

* Purchase price for property under construction is 37.5 million euros

* Transfer of possession of two newly built properties is expected to be in mid-2017

* Furthermore, purchase agreement for “Domi” high street building in centre of dortmund was notarised in september

* Taking into account significantly higher number of shares following capital increase of 79.7 million, this would correspond to FFO per share of approximately 44 cents Source text for Eikon: Further company coverage: ($1 = 0.9142 euros) (Gdynia Newsroom)

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