Deutsche Konsum REIT makes acquisitions for more than EUR 48 million

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DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Acquisition/Real Estate11.04.2019 / 07:03 The issuer

Deutsche Konsum REIT makes acquisitions for more than EUR 48 million

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

11.04.2019 / 07:03
The issuer is solely responsible for the content of this announcement.


Press release

Deutsche Konsum REIT makes acquisitions for more than EUR 48 million

Broderstorf, 11 April 2019 - Deutsche Konsum REIT-AG ("DKR") (ISIN DE000A14KRD3) acquired nine other retail properties in single transactions with notarised certificates in March and April 2019.

The largest acquisition property is the local supply and shopping centre "Montanushof" in Grevenbroich (Northrhine-Westphalia) with around 28,000 m² of rental space. The centre, which was built in 1983, was completely renovated in 2004 and is home to, among other things, the anchor tenants Kaufland (Schwarz Group), Adler, Rossmann, Woolworth, Deichmann, TEDi and a pharmacy. Furthermore, Best Western operates a hotel in a part of the building. The average remaining term of the contracts (WALT) is 7.0 years, with the anchor tenants sometimes having considerably longer tenant contracts. The annual rent is currently around EUR 2.2 million. In addition, the current vacancy rate of 29%, according to DKR estimates, offers significant value creation potential, which is to be realised step by step.

Furthermore, the local shopping centre "Altmark Forum" in Stendal (Saxony-Anhalt) was acquired. The property was built in 1995 and has a leasable area of approximately 12,100 m². The main anchor tenants here are also Kaufland (Schwarz Group), TEDi, Woolworth, a pharmacy as well as doctors and physiotherapists. The property has an average residual lease term of around 6.5 years and currently has a vacancy rate of 13% of the space. The annual rent is around EUR 0.9 million.

The seven further acquisitions comprise of three local supply centres and four grocery discounters which generate an annualised rent of EUR 1.5 million in total and have WALTs between three and more then seven years. All properties are almost completely let:

- local supply centre "Portitz-Treff" in Leipzig (Saxony) with approximately 7,400 m² rental space with, among others, the anchor tenants Thomas Philipps, KIK, TEDi, a grocery and a beverage market as well as further daily needs services,

- local supply centre "Weyhegarten" in Quedlinburg (Saxony-Anhalt) with approx. 4,000 m² rental space with, among others, the anchor tenants EDEKA, as well as a savings bank, a pharmacy as well as doctors and physiotherapists,

- local supply centre in Wunsiedel (Bavaria) with approx. 2,500 m² rental space with the food retailer Norma, a bakery shop and a shoe store, and

- grocery discounters in Mülsen St. Jacob, Königsbrück and Wurzen (all in Saxony) as well as in Wolfen (Saxony-Anhalt) each with around 1,200 m² rental space with the anchor tenants Netto and Diska (EDEKA).

The investment volume for all nine properties with a total rental space of around 58,000 m² amounts to EUR 48.5 million with a total annual rent of around EUR 4.7 million. The transfers of benefits and encumbrances are expected in May, June and July 2019.

Therefore, in the financial year 2018/2019, the property portfolio of Deutsche Konsum grew by 29 properties with a purchase volume of around EUR 118 million already. Thus, the total portfolio (pro forma) currently comprises 118 properties with a total rental space of more than 690,000 m² and a book value of around EUR 540 million as well as an annual rent of around EUR 46 million.

In addition, DKR is in concrete purchasing processes and expects further acquisitions shortly.

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 118 retail properties with an annualised rent of EUR 46 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



11.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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
EQS News ID: 798405


 
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