Acquisition of entertainment property with hotel, bowling alley, cinema and restaurant facilities in the immediate vicinity of Kiel Central Station in 2008
Marginal vacancy rate
Medium-term WALT
Strategy & Implementation
Buy-and-hold with long-term holding period
Focus on the long-term extension of existing leases and maintaining the current occupancy rate
Processing of rent arrears
Maximisation of tenant satisfaction through consistent asset management
Retaining tenants beyond the end of their contracts
Results
Maintaining a stable occupancy rate
Increasing the annual rent by around 10% and the NOI by around 15%
Doubling the WALT
Sale in 2018
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