Deutsche Konsum REIT-AG, DE000A14KRD3

Deutsche Konsum REIT-AG, DE000A14KRD3

09.11.2018 - 07:03:04

Deutsche Konsum REIT acquires eight retail properties for EUR 23.6 million and sells one property

Press Release

Deutsche Konsum REIT acquires eight retail properties for EUR 23.6 million and sells one property

Broderstorf, 9 November 2018 - Deutsche Konsum REIT-AG (ISIN DE000A14KRD3) acquired eight more retail properties in individual transactions with notarised certificates. The largest property is a retail park in Hof (Bavaria) with around 7,800 m² of rental space and the main tenant MediaMarkt, as well as a training provider and a restaurant with a WALT of more than eight years and an annual rent of around EUR 0.6 million. The property currently has a vacancy rate of around 13%. In addition, the retail park "Kurpark-Center" was acquired in Erkner near Berlin (Brandenburg) with a rental space of around 5,800 m². The main tenants here are one Penny-Markt (REWE) with a residual lease term of more than eight years as well as Getränke Hoffmann, a pet store, additional office and medical practice tenants and a bank branch. The property is fully let and has an annual rent of around EUR 0.5 million. Furthermore, an Edeka Centre in Bad Harzburg (Lower Saxony) with a leasable area of approximately 4,000 m² was acquired. The property is fully let, has a WALT of more than nine years and an annual rent of around EUR 0.4 million. The five other properties comprise three Netto markets (EDEKA) in Weida (Thuringia), Mainleus (Bavaria) and Dortmund (NRW) as well as two REWE hypermarkets in Merseburg (Saxony-Anhalt) and Altentreptow (Mecklenburg-West Pomerania). The total annual rent amounts to EUR 0.7 million for remaining rental periods between four and 14 years.

The investment volume for all eight properties amounts to EUR 23.6 million with a total annual rent of around EUR 2.2 million. The transfers of benefits and encumbrances are expected mainly in January 2019. Furthermore, Deutsche Konsum sold a Nahkauf hypermarket in Berlin-Heiligensee from its portfolio for kEUR 975, which corresponds to 18 times the annual rent. Thus, the current overall portfolio of Deutsche Konsum (pro forma) comprises 103 properties with an annualised rent of around EUR 39.5 million. In addition, DKR is in concrete acquisition processes for further acquisitions.  

About Deutsche Konsum Deutsche Konsum REIT-AG based in Broderstorf is a listed real estate company focusing on retail properties in Germany for goods required for daily use in established micro-locations. The focus of the company's activities is on the management and development of real estate with the aim of achieving a steady increase in value and the realisation of hidden reserves. The steadily increasing current property portfolio of Deutsche Konsum comprises 103 retail properties with an annualised rent of EUR 39.5 million.

Due to its REIT status ('Real Estate Investment Trust'), the company is exempt from corporation and trade tax. The shares of the company are listed on the Prime Standard of the Deutsche Börse (ISIN: DE 000A14KRD3).

Contact: Deutsche Konsum REIT-AG Stefanie Frey Investor Relations E-Mail: sf@deutsche-konsum.de Phone: +49 (0) 331 74 00 76 - 533

09.11.2018 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.de

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: 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, Munich, Stuttgart, Tradegate Exchange; London   End of News DGAP News Service

743527  09.11.2018 

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