DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Real Estate/Acquisition
Deutsche Konsum REIT acquired three retail properties in Saxony, Brandenburg and Baden-Wuerttemberg
Broderstorf, 21 March 2018 - Deutsche Konsum REIT-AG (ISIN DE000A14KRD3) continues its growth rapidly and has notarised the acquisition of three further high-yield retail properties.
These comprise of the retail centre "Pleissen-Center" in Werdau nearby the city of Zwickau (Saxony). Total rental space of this property amounts to 39,000 sqm and is occupied at 95%. Anchor tenants are Kaufland (hypermarket), Möbel Roller (furnishings) and a car components supplier. The annualised rent is EUR 2.3 million with a WALT of circa five years.
Moreover the acquisition include the locally established retail centre "Anger Zentrum" in Angermünde (Brandenburg). The centre has a total rental space of roughly 4,900 sqm and is fully let. Anchor tenants are Norma (grocery), a local bank and a pharmacy as well as several other medical offices and health care services. The 1994 built property has an annualised rent of circa EUR 0.4 million.
The third property is an EDEKA Cash & Carry wholesale market in Pfullingen (Baden-Wuerttemberg). The market has a rental space of circa 3,500 sqm and is fully let. Annualised rent amouts to EUR 0.2 million at a WALT of circa five years.
The total investment volume for all three properties amounts to EUR 25.6 million which implies an initial yield of 11.2 %. Transfer of ownership is expected to occur on 1 May 2018.
Including the latest acquisitions the current (pro forma) property portfolio of Deutsche Konsum REIT comprises of 85 retail properties with an annualised rent of EUR 32.0 million.
Due to a remaining strong acquisition pipeline Deutsche Konsum expects further acquisitions in the short run.
Rolf Elgeti, CEO: "With the recent acquisitions we have added further strong properties to our portfolio and invested further funds very accretively for our shareholders. We want to exploit the current acquisition momentum and expect a further strong growth in the current financial year."
About Deutsche Konsum
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).
|Company:||Deutsche Konsum REIT-AG|
|Phone:||+49 (0)331 740076517|
|Fax:||+49 (0)331 740076520|
|Listed:||Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange; London|
|End of News||DGAP News Service|