Deutsche Industrie REIT-AG: Deutsche Industrie REIT-AG acquires two commercial properties in Wuppertal and Remscheid
Deutsche Industrie REIT-AG acquires two commercial properties in Wuppertal and Remscheid
Rostock, 14 February 2018 - Deutsche Industrie REIT-AG (ISIN DE000A2G9LL1) acquires two commercial properties in Wuppertal and Remscheid (North Rhine-Westphalia) for a purchase price of 13.7 Mio. EUR.
With a population of approx. 350,000 Wuppertal is one of the biggest cities in North Rhine-Westphalia. As one of the traditional industrial centres of Germany the city has still an economic importance.
In Wuppertal the well refurbished building complex consists of small-scale office, storage and workshop areas and comprises a rental space of approx. 10,200 sqm with an annualised rent of about 579 kEUR. The weighted average lease term of the contracts with fixed expiration (74%) is at 2.5 years, while the vacancy is at 0.8%.
Remscheid is a bigger town in North Rhine-Westphalia and has a long history as industrial location, especially with mechanical engineering and tool manufacturing. This is also reflected in the tenant structure of the acquired asset. One major shareholder is Alexanderwerk AG which was the first company to be listed on the German Stock exchange in 1899.
In Remscheid the industrial park, with around 43,000 sqm of land, has logistics, office, workshop and production areas. Commercial rental space amounts to ca. 26,700 sqm, the annualised rent is around 898 kEUR. The WALT is at 2.2 years for the fixed expiration contracts, while 70% of the contracts are open-ended. With 2.6% the vacancy is quite low.
Regarding the total investment of EUR 13.7 million this leads to an initial yield of 10.8 %. The transfer is expected in April 2018.
After this transaction Deutsche Industrie REIT-AG owns a portfolio of 12 properties with a total rental space of approx. 379,000 sqm., an annualised rent of approx. 11.2 Mio. EUR and a portfolio value of ca. 101.6 Mio EUR.
Please find more information about Deutsche Industrie REIT-AG on our website:
http://www.deutsche-industrie-reit.de/Contact: Deutsche Industrie REIT-AG Mr René Bergmann August-Bebel-Str. 68 14482 Potsdam Tel. +49 331 740 076 535
14.02.2018 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.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Deutsche Industrie REIT-AG Martin-Niemöller-Str. 23 18147 Rostock
Germany Phone: +49 331 740076 5 - 0 Fax: +49 331 / 740 076 520 E-mail: firstname.lastname@example.org Internet: http://www.deutsche-industrie-grundbesitz.de ISIN: DE000A2G9LL1, DE000A2GS3T9 WKN: A2G9LL, A2GS3T Listed: Regulated Market in Berlin; Regulated Unofficial Market in Frankfurt End of News DGAP News Service