Deutsche Konsum REIT-AG acquires Hypermarket in Oer-Erkenschwick
Deutsche Konsum REIT-AG acquires Hypermarket in Oer-Erkenschwick (NRW)
Broderstorf, May 4th 2017 - Deutsche Konsum REIT-AG (ISIN DE000A14KRD3) has acquired a Hypermarket within North Rhein-Westphalia's Oer-Erkenschwick (district of Recklinghausen) for a purchase price of EUR 13.5m. The property is situated within a highly frequented part of the city and a well-established retail location of the city and its surroundings. The property is on a long term lease with the anchor Kaufland with an annual rent of EUR 1.3m. The lease has been contracted until 2030 and has two renewal options for a total 14 additional years. The transfer of title is expected for the 1st of June 2017.
The shopping center has a total lettable area of approx. 9,600 sqm which are entirely let. Thanks to extensive modernization and renovation measures the property which was built in 1996 presents itself in a very good condition.
Rolf Elgeti, CEO of Deutsche Konsum REIT-AG: "On one hand the shopping center in Oer-Erkenschwick extends our portfolio in Western Germany. On the other hand, its long-term lease contract and the attractive initial yield of 9.4% are a valuable contribution to further strengthen our FFO. Due to the very long lease term and the tenant structure an exceptionally high rental margin is expected."
Please find more information about Deutsche Konsum REIT-AG on our website www.deutsche-konsum.de .
Deutsche Konsum REIT-AG Tel. 0049 (0)331 / 74 00 76 -517 Fax 0049 (0)331 / 74 00 76 - 520 Email: email@example.com
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Company: Deutsche Konsum REIT-AG August-Bebel-Str. 68 14482 Potsdam
Germany Phone: +49 (0)331 740076517 E-mail: firstname.lastname@example.org 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 End of News DGAP News Service