Deutsche Konsum REIT has prolonged two rental contracts with EDEKA about 13,000 sqm by 10 and 15 years

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DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Real Estate09.01.2019 / 07:00 The issuer is solely

Deutsche Konsum REIT has prolonged two rental contracts with EDEKA about 13,000 sqm by 10 and 15 years

DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Real Estate

09.01.2019 / 07:00
The issuer is solely responsible for the content of this announcement.


Press release

Deutsche Konsum REIT has prolonged two rental contracts with EDEKA about 13,000 sqm by 10 and 15 years

Broderstorf, 9 January 2019 - Deutsche Konsum REIT-AG (ISIN DE000A14KRD3) has prolonged two essential lease contracts at two locations with food retailer EDEKA prematurely by 10 and 15 years.

Firstly the general lease contract of the 6,500 sqm bearing EDEKA-Center in Bergen (Lower Saxony) which were dated until 28 February 2020 has now been prolonged by 10 years until 28 February 2030. Moreover new prolongation options of total further 15 years were concluded.

Secondly the rental contract of the 6,800 sqm EDEKA-Center "Holzmarkt" in Verden (Lower Saxony) has been prolonged by 15 years starting from 1 January 2019 until 31 December 2033. Fresh prolongation options of total further 15 years were agreed here, too.

Taking into account these prolongations the reported WALT as at 30 September 2018 would have grown by 0.7 years to 5.9 years.

Additionally DKR is expecting further long-term prolongations of existing lease contracts within the existing property portfolio shortly.

Alexander Kroth, CIO: "With these both prolongations we could underline once more that our investment strategy works and that basic retail properties for daily needs in established micolocations are stable and will not be replaced by digitisation in a long view."

About Deutsche Konsum
Deutsche Konsum REIT-AG based in Broderstorf is a listed real estate company focusing on retail properties in Germany for goods required for daily use in established micro-locations. The focus of the company's activities is on the management and development of real estate with the aim of achieving a steady increase in value and the realisation of hidden reserves. The steadily increasing current property portfolio of Deutsche Konsum comprises of 109 retail properties with an annualised rent of EUR 42 million.

Due to its REIT status ('Real Estate Investment Trust'), the company is exempt from corporation and trade tax. The shares of the company are listed on the Prime Standard of the Deutsche Boerse (ISIN: DE 000A14KRD3).

Contact:
Deutsche Konsum REIT-AG
Stefanie Frey
Investor Relations
E-Mail: sf@deutsche-konsum.de
Phone: +49 (0) 331 74 00 76 - 533



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Language: English
Company: Deutsche Konsum REIT-AG
August-Bebel-Str. 68
14482 Potsdam
Germany
Phone: +49 (0)331 740076517
Fax: +49 (0)331 740076520
E-mail: ch@deutsche-konsum.de
Internet: www.deutsche-konsum.de
ISIN: DE000A14KRD3
WKN: A14KRD
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange


 
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