Deutsche Konsum REIT-AG acquires well established 'Neiße-Center' in Guben

DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Acquisition/Real Estate02.05.2017 / 11:05 The issuer

Deutsche Konsum REIT-AG acquires well established 'Neiße-Center' in Guben

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

02.05.2017 / 11:05
The issuer is solely responsible for the content of this announcement.


Press Release

Deutsche Konsum REIT-AG acquires well established "Neiße-Center" in Guben

Broderstorf, May 2nd 2017 - Deutsche Konsum REIT-AG (ISIN DE000A14KRD3) has acquired the Neiße-Center in Guben for a purchase price of EUR 7.0m. The well-established retail-park is situated in a highly frequented retail location. Strong anchors such as Rewe, Aldi, Rossmann and Thomas Philipps undermine the property's strength. The current annual rent stands at EUR 0.9m at a WALT of roughly five years. The transfer of title is expected for the 1st of June 2017.

The Neiße-Center has a total lettable area of approx. 12,400 sqm of which 90% are currently let. The property was built in 1992 and shows itself in an above average condition. Furthermore, it is a suitable addition to one of the portfolio's existing properties.

Rolf Elgeti, CEO of Deutsche Konsum REIT-AG: "The Neiße-Center perfectly suits our investment strategy as it is a well-established and functioning retail center in Guben and its surroundings. The very attractive initial yield of around 12 % as well as the reasonable price per sqm for such a property have a value increasing effect on the overall portfolio and strengthen our FFO."

Please find more information about Deutsche Konsum REIT-AG on our website www.deutsche-konsum.de.

Contact:

Deutsche Konsum REIT-AG
Tel. 0049 (0) 331 / 74 00 76 - 517
Fax 0049 (0) 331 / 74 00 76 - 520
Email: info@deutsche-konsum.de



02.05.2017 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
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, Stuttgart, Tradegate Exchange


 
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