Hansa declares 3% interim dividend
Northern Horizon’s German fund, Hansa, has both strong operational performance as well as solid cash position. Based on these fundamentals the Board of Directors decided to pay a 3% dividend distribution to the Hansa shareholders in November 2015.
The fund has generated good operational results and also benefited from the generally low interest rate environment, thus being able to reduce its total cost of capital.
The fund’s refinancing and restructuring processes have resulted in liquidity upgrades. In particular, in October 2015 Hansa refinanced its office property in Hanover and reduced future debt service materially. Additionally in Berlin the Bessemerstraße office property’s continuous performance improvement adds up to a positively developing rental income also in the coming year.
“The stable and well-performing German real estate market supports Northern Horizon’s active management approach to Hansa’s assets and generates positive expectations also for 2016”, concludes Fund Manager Georg Haider.
For further information please contact:
Mr. Georg Haider, Head of Germany &
Fund Manager Hansa
Tel: +49 30 20 21 59 87, email@example.com