DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Acquisition/Real Estate
Deutsche Konsum REIT acquires two food-anchored properties for around EUR 34 million
Broderstorf, 7 January 2021 - With notarisation in December 2020 Deutsche Konsum REIT-AG ("DKR") (ISIN DE000A14KRD3) has acquired two further retail properties.
On the one hand, the City Center in Northeim (Lower Saxony) was acquired, which is the main shopping location with a wide range of daily needs within a radius of around 20 kilometres and is located in a very good micro-location in the centre of the city. Of the total lettable space of around 19,750 m², the majority is retail space let to a defensive tenant mix with anchor tenants Netto Marken-Discount (Edeka), Rossmann, Woolworth, KiK, H&M and C&A. In addition, residential and office space accounts for a portion of approximately 5,500 m². The annualised rent is currently around EUR 2.6 million with a WALT of around 4.6 years. The vacancy rate is currently 7%.
On the other hand, a retail park in Zittau (Saxony) with a rental area of around 15,200 m² was acquired. The main anchor tenant of the property is Kaufland (Schwarz Group) as well as a Euronics store and a furniture shop. The annualised rent is approx. EUR 0.9 million with a WALT of approx. 4.4 years. The current vacancy rate is 8%.
The purchase volume for both properties totals around EUR 34 million with a total annual rent of EUR 3.5 million, resulting in a purchase yield of around 10.3%.
Thus, the total portfolio (pro forma) currently comprises 171 properties with a total lettable area of over 980,000 m² and a balance sheet value of around EUR 880 million. The portfolio currently generates an annual rent of around EUR 70 million.
In addition, DKR is currently in the middle of further concrete purchase processes and expects further acquisitions in the near future.
About Deutsche Konsum
|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, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1158827|
|End of News||DGAP News Service|