28.03.2018
Deutsche Konsum REIT-AG DE000A14KRD3
DGAP-News: Deutsche Konsum REIT acquired 'Elster Center' in Elsterwerda
DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Real Estate/Acquisition
Deutsche Konsum REIT acquired 'Elster Center' in Elsterwerda
28.03.2018 / 07:00
The issuer is solely responsible for the content of this announcement.
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Press release
Deutsche Konsum REIT acquired "Elster Center" in Elsterwerda
Broderstorf, 28 March 2018 - Deutsche Konsum REIT-AG (ISIN DE000A14KRD3) has
notarised the acquisition of the very well-established retail centre "Elster
Center" in Elsterwerda (Brandenburg) yesterday.
The 1991 built centre has a total rental space of 36,000 sqm and was
modernised completely in 2012. Strong anchor tenants are REWE, ALDI
(grocery), DM (drug store), toom (DIY), Medimax (electronics), AWG Mode
(fashion) and a furnishing supplier. The centre is fully let and has an
annualised rent of EUR 1.9 million at a WALT of eight years remaining plus
extension options.
The total investment volume amounts to EUR 23.0 million which implies an
initial yield of 8.3%. Transfer of ownership is expected to occur on 1 June
2018.
Including the latest acquisitions the current (pro forma) property portfolio
of Deutsche Konsum REIT comprises of 86 retail properties with an annualised
rent of EUR 33.9 million.
Due to a remaining strong acquisition pipeline Deutsche Konsum expects
further acquisitions in the short run.
Rolf Elgeti, CEO: "The initial yield of 8.3% is quite low by our acquisition
standards. However, we believe there is significant potential for
development and rental growth in the medium term future in order to make
this a very accretive acquisition for our shareholders."
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 of 86
retail properties with an annualised rent of EUR 33.9 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 Boerse (ISIN: DE 000A14KRD3).
Contact:
Deutsche Konsum REIT-AG
Stefanie Frey
Investor Relations
E-Mail: [email protected]
Phone: +49 (0) 331 74 00 76 - 533
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28.03.2018 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.
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Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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: [email protected]
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; London
End of News DGAP News Service
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669515 28.03.2018
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