In addition to a plot of land of around 10,000 sqm already in the company's portfolio, VIB Vermögen was able to acquire a further property with a size of around 41,000 sqm. Under the umbrella of a joint venture, in which VIB Vermögen holds a 74 percent stake, the two plots will be combined and completely redesigned. As a result, lettable space in the order of around 25,000 m² is expected to be developed on the combined plot. The location is very well suited for any kind of use by the logistic or light industry due to the very good connection to the highway A 9, one of the main traffic arteries in Bavaria.
"The acquisition of land has become one of the great challenges for real estate companies. We are all the more pleased that we have been able to acquire a plot from our existing network that meets our criteria particularly well," said Martin Pfandzelter, CEO of VIB Vermögen AG.