Deutsche Konsum REIT acquires the 'PEP' retail centre in Grimma - Investment volume up to more than EUR 105 million in the current FY
DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Real Estate/Acquisition
Deutsche Konsum REIT acquires the "PEP" retail centre in Grimma - Investment volume up to more than EUR 105 million in the current FY
Broderstorf, 7 January 2020 - With recent notarisation at the end of December last year Deutsche Konsum REIT-AG ("DKR") (ISIN DE000A14KRD3) has acquired the "PEP" retail centre in Grimma (Saxony).
The PEP has a rental space of circa 15,500 m² and is located in a very established retail park which is locally well-established for decades. Main tenants among others are Kaufland, NKD, Rossmann and Pfennigpfeiffer as well as other retailers with daily needs supply. The WALT is currently around 3.7 years and the annual rent amounts to EUR 1.6 million while the current vacancy is circa 11%.
Including this acquisition in the financial year 2019/2020 the property portfolio of Deutsche Konsum grew by 15 properties with a purchase volume of more than EUR 105 million and an annual rent of EUR 10.3 million already. Thus, the total portfolio (pro forma) currently comprises of 137 properties with a total rental space of more than 835,000 m² and a book value of around EUR 730 million as well as an annual rent of around EUR 59 million.
In addition, DKR is in concrete purchasing processes and expects further acquisitions shortly.
About Deutsche Konsum
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).
|Company:||Deutsche Konsum REIT-AG|
|Phone:||+49 (0)331 740076517|
|Fax:||+49 (0)331 740076520|
|Listed:||Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||947601|
|End of News||DGAP News Service|