EANS-News: Fair Value REIT-AG / Fair Value REIT-AG is successful in converting a Pinneberg bank building into a health centre

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Contracts

München (euro adhoc) - Fair Value REIT-AG has converted 60 percent of
the total area of a bank building in Pinneberg to new usage in close
cooperation with the previous tenant Sparkasse Südholstein. Overall,
new rental agreements have been concluded with five doctor's
practices, each with a contract term of ten years, at the property
Damm 49 which boasts around 1,900 square meters of floor space. In
addition, a rental agreement for 15 years from October 2012 has been
signed with a pharmacist.

"This means that the majority of the available space is already
secured for health-related usage in the long-term, something which
will determine the future character of the property as a doctor's
building and health centre," explains Frank Schaich, CEO of Fair
Value REIT-AG. "With the support of Sparkasse Südholstein, which is
contractually bound to the space which is not re-let until December
2012, we were able to start marketing the property for the
alternative usage as a health centre in good time. This has allowed
us to find some new tenants ahead of time and therefore achieve a
smooth re-letting process, avoiding loss of rent. We believe the
renovation costs are good value considering the sustained follow-up
usage and the future approx. ten percent higher rental income."

Given the current demand for medical and therapy space in the
property located near the town centre, the Management Board of Fair
Value REIT-AG believes that successful repositioning through complete
re-letting of the property is now tangibly close.

Further inquiry note:
{Fair}[HYPERLINK: mailto:Fair] Value REIT-AG
Frank Schaich
Tel. 089-9292815-10
Fax. 089-9292815-15
e-mail: schaich@fvreit.de

end of announcement euro adhoc
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company: Fair Value REIT-AG
Leopoldstraße 244
D-80807 München
phone: +49 (0) 89 9292815 01
FAX: +49 (0) 89 9292815 15
mail: info@fvreit.de
WWW: http://www.fvreit.de
sector: Real Estate
ISIN: DE000A0MW975
indexes: CDAX, Classic All Share, Prime All Share, RX REIT All Share Index,
RX REIT Index
stockmarkets: free trade: Berlin, München, Düsseldorf, Stuttgart, regulated
dealing/prime standard: Frankfurt
language: English