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DGAP-News: Deutsche Konsum REIT-AG
/ Key word(s): Real Estate/Acquisition
Press release Deutsche Konsum REIT acquires 29 food-anchored retail properties for EUR 64 million Broderstorf, 12 February 2020 - With recent notarisation Deutsche Konsum REIT-AG ("DKR") (ISIN DE000A14KRD3) has acquired 29 food retail properties. These comprise a portfolio of 27 food retail stores in Bavaria and Saxony (1) with anchor tenant Edeka (> 90%) and other complementary retail tenants. All properties have already been established at their locations for many years and each fulfils an important supply function there. The portfolio has a rental area of approximately 37,000 m² and generates an annual rent of around EUR 2.9 million. The current remaining lease term averages five years with a vacancy rate of around 4%. DKR also acquired the "City Center" in Eisenhüttenstadt (Brandenburg). This is a local retail centre that has been established for many decades in a prime specialist retail location with around 28,900 m², which was extensively modernised in 2017. Current anchor tenants include food retailers Edeka and Pennymarkt (Rewe) as well as Rossmann, Woolworth, Hammer and other suppliers of daily consumer goods and services. The annual rent is currently around EUR 2.1 million with a remaining lease term of around six years. There is currently a vacancy rate of approximately 35%, for which there is already concrete interest in renting in some cases. In addition, a food discounter with anchor tenant Netto (Edeka) in Schönwalde-Glien (Brandenburg) was acquired. The property has a rental area of 1,100 m², is fully let and generates annual rent of approximately kEUR 130. The remaining lease term is approximately four years. The purchase volume for all properties amounts to approximately EUR 64 million, resulting in a purchase yield of more than 8%. Including this acquisition in the financial year 2019/2020 the property portfolio of Deutsche Konsum grew by 44 properties with a purchase volume of more than EUR 170 million and an annual rent of EUR 15.6 million already. Thus, the total portfolio (pro forma) currently comprises of 166 properties with a total rental space of more than 900,000 m² and a book value of around EUR 0.8 billion. The portfolio currently generates an annual rent of around EUR 64.4 million. In addition, DKR is in concrete purchasing processes and expects further acquisitions shortly. About Deutsche Konsum Contact:
12.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| 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: | |
| Internet: | -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: | 973335 |
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| End of News | DGAP News Service |
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973335Â Â 12.02.2020Â
