Deutsche Konsum REIT acquires the 'PEP' retail centre in Grimma - Investment volume up to more than EUR 105 million in the current FY

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DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Real Estate/Acquisition07.01.2020 / 07:00 The issuer

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
07.01.2020 / 07:00
The issuer is solely responsible for the content of this announcement.

Press release

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
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 137 retail properties with an annualised rent of around EUR 59 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: sf@deutsche-konsum.de
Phone: +49 (0) 331 74 00 76 - 533



07.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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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: 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, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 947601


 
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