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05. December 2019 | 13:57 CET

Alternative to Vonovia & Co? 6% MOREH bond with positive news

  • Real Estate

The real estate portfolio holder M Objekt Real Estate Holding GmbH & Co. KG, MOREH for short, issued a corporate bond in the summer of 2019 with a fixed interest rate of 6.00% on a semi-annual payment and extensive collateral. The security has a term of five years and is listed on the Munich Stock Exchange and all other German stock exchanges. MOREH is a classic real estate portfolio holder focusing on commercial real estate in western Germany. This means that the company is not affected by the current discussion about rent breaks or rent caps. Instead, MOREH reports rental success and convinces experts.

time to read: 1 minutes by Mario Hose


Outlet-Center Wadgassen with record turnover and letting success in Dorsten

For example, the Wadgassen outlet center near Saarbrücken achieved a record turnover in 2019. The more than 20 shops have generated around 20% more turnover in the current year than in 2018. MOREH receives a share of the turnover from the rental of the total 6,550 sqm in addition to a fixed rent. MOREH has also achieved further letting successes. Two catering units in the Dorsten property were let for a further 10 years. The property has 6,000 sqm of letable space and includes retail and office space in addition to gastronomy.

Family-run real estate portfolio holder with diversified portfolio

MOREH is a classic real estate portfolio holder with a focus on commercial real estate in western Germany. The portfolio comprises seven properties with a total usable space of around 48,000 sqm and a market value of around EUR 77 million. The properties - including office and retail properties, a specialty shopping centre and an outlet centre - are broadly diversified across property classes, tenant structures and locations. The occupancy rate is high at over 96%. As part of the Munitor Group, MOREH benefits from decades of experience in the development, purchase and management of commercial real estate. The Munitor Group, based in Saarbrücken, has successfully developed projects with a total value of more than EUR 500 million since it was founded in 1982.

Experts of KFM Deutsche Mittelstand AG convinced

The MOREH bond has convinced the experts at KFM Deutsche Mittelstand AG. From the experts' perspective, MOREH and its parent company have built up a successful long-term track record, created sufficient references in the real estate market and thus achieved above-average fundamental increases in project value. In conjunction with a yield of 6.00% p.a., the experts rated MOREH's bond as "attractive" and awarded it 4 out of a possible 5 stars for issue in the summer. The experts also invested in the MOREH bond with their fund.

Conflict of interest & risk note

In accordance with §34b WpHG we would like to point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH may hold long or short positions in the aforementioned companies and that there may therefore be a conflict of interest. Apaton Finance GmbH may have a paid contractual relationship with the company, which is reported on in the context of the Apaton Finance GmbH Internet offer as well as in the social media, on partner sites or in e-mail messages. Further details can be found in our Conflict of Interest & Risk Disclosure.

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17. February 2020 | 11:15 CET

HELMA Eigenheimbau AG - the real estate pearl from Lower Saxony

  • Real Estate

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Buy Homes & Holiday: Analysts see significant upside potential

  • Real Estate

Homes & Holiday AG should significantly increase sales and earnings in the current year 2020. This is expected by the analysts of GBC Research in their current study. On the basis of the refocusing on the core business on the Balearic Islands, which began in 2019, GBC has valued the specialist for holiday properties using a DCF model and calculated a fair value of EUR 1.05 per share. Based on the current price level of around EUR 0.40 per share, the analysts see high potential and have given the share a Buy rating. The potential market potential is very high.


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Rent cap keeps Vonovia & Co on its toes: MOREH offers 6% fixed interest rate with commercial property

  • Real Estate

The discussions surrounding a rent cap in Berlin and other cities have repeatedly caused uncertainty among shareholders of real estate companies such as Vonovia in 2019. No improvement is in sight for 2020. Anyone who focuses on commercial real estate is not affected by this. For example, the real estate portfolio owner M Objekt Real Estate Holding GmbH & Co. KG, MOREH for short. In the summer of 2019, the company issued a corporate bond with a fixed interest rate of 6.00 percent with a semi-annual payment and extensive collateral. The security with a term of five years can be traded on numerous German stock exchanges. MOREH is a classic real estate portfolio holder with a focus on commercial real estate in Western Germany. Experts consider the MOREH bond to be attractive and have invested.