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Hamborner REIT acquires German office property for €34M

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Hamborner REIT acquires German office property for €34M

Hamborner REIT AG acquired an office property in North Rhine-Westphalia, Germany, for €34.4 million.

The property, located in Ratingen in the district of Mettmann, was transferred to Hamborner July 11, the company said in its first-half earnings release.

In July, Hamborner REIT agreed to sell a retail property in Minden, North Rhine-Westphalia, for €4.5 million.

Meanwhile, the company is expecting its full-year 2017 funds from operations to grow to between 44 million and €45 million, or 55 cents to 56 cents on a per-share basis.

The S&P Capital IQ consensus FFO-per-share estimate for the full year is 58 cents.