Deutsche Konsum REIT acquires three retail properties for around EUR 17 million / Management Board contracts extended by three years

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DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Acquisition/Real Estate10.06.2020 / 07:10 The issuer

Deutsche Konsum REIT acquires three retail properties for around EUR 17 million / Management Board contracts extended by three years

DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Acquisition/Real Estate
10.06.2020 / 07:10
The issuer is solely responsible for the content of this announcement.

Press release

Deutsche Konsum REIT acquires three retail properties for around EUR 17 million / Management Board contracts extended by three years

Broderstorf, 10 June 2020 - Deutsche Konsum REIT-AG ("DKR") (ISIN DE000A14KRD3) has acquired three additional retail properties.

The acquisitions include a local retail centre in Zerbst (Saxony-Anhalt) with a total rental space of around 2,500 m² and the food anchor tenant Netto (EDEKA) as well as Action and Takko with a remaining rental period of five years.

In addition, a local retail centre in Rövershagen (Mecklenburg-West Pomerania) with a total lettable area of around 2,200 m² was acquired. The anchor tenants are the food discounter PENNY (REWE) as well as a beverage market, a bakery and other local service shops for daily needs. The current average remaining lease term here is six years.

Furthermore, a retail park in Stendal (Saxony-Anhalt) with a total rental area of around 19,800 m² was acquired. Major tenants include ROLLER, Dänisches Bettenlager, tedox (DIY) as well as a tyre service and a community centre. The agglomeration has been established at the location for decades with its range of products and also offers further development opportunities. The average remaining lease term is currently more than seven years.

The purchase volume for all properties amounts to approximately EUR 16.9 million at a total annual rent of EUR 1.5 million, which results in a return on investment of approximately 9%.

Thus the total portfolio (pro forma) currently comprises 163 properties with a total rental area of more than 900,000 m² and a balance sheet value of around EUR 0.8 billion. The portfolio currently generates an annual rent of around EUR 64 million.

DKR is also in the middle of further concrete purchase processes and expects to make further acquisitions shortly.

Supervisory Board extends contracts with Management Board
The Supervisory Board has extended the employment contracts of Management Board members Alexander Kroth (CIO) and Christian Hellmuth (CFO), which expire on 30 June 2020, by three years.

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 ("basic retail") 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.
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



10.06.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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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:1066627


 
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