VIB Vermögen AG Adjusts Forecast Following Strategic Acquisitions

VIB Vermögen AG has increased its forecast for gross rental income and funds from operations (FFO) after acquiring majority interests in eight real estate companies. The acquisitions involve a purchase price of around EUR 94 million and include nine properties generating EUR 16 million in annualized rents.

The updated figures from VIB Vermögen AG's management board forecast gross rental income between EUR 85 to 89 million for the fiscal year 2024, up from the previous estimate of EUR 72.0 to 78.0 million. Similarly, the revised FFO forecast now ranges from EUR 74 to 78 million, compared to earlier projections of EUR 62.0 to 68.0 million.

The acquisition was finalized with the Branicks Group AG and its affiliated companies. This strategic move aims to enhance the company's financial performance.