Executive Summary
Deutsche Land plc is a newly incorporated Isle of Man company which has been established to invest in a portfolio of German commercial real estate properties, with a focus on retail assets. The Company is targeting a dividend yield on the Placing Price of 8 to 10 per cent. per annum, exploiting the current spread between commercial property yields and the cost of borrowing, together with the opportunity for capital appreciation if yields compress and property values increase. The Directors of Deutsche Land believe that the Company has the following key strengths and opportunities: * a growing market opportunity with the improving German economy; * the positive changes in the German retail landscape; * the current high net rental yields and good occupancy rates for retail properties in good locations; * the significant covenant strength of its tenants and a spread of unexpired lease terms; * an experienced management team with proven property or structured finance expertise; * an experienced property consultant who will seek to ensure that the Group is provided with good deal-flow; and * the ability to provide investors with a secure, progressive dividend yield, backed by a strong asset base.
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