Brief: Deutsche Konsum REIT Acquires Three Retail Properties For Around EUR 17 Million

Deutsche Konsum Real Estate AG

10/06/2020 06:13

June 10 (Reuters) - Deutsche Konsum REIT AG  DKG.DE :
    * DGAP-NEWS: DEUTSCHE KONSUM REIT ACQUIRES THREE RETAIL
PROPERTIES
FOR AROUND EUR 17 MILLION / MANAGEMENT BOARD CONTRACTS EXTENDED
BY THREE YEARS
    * PURCHASE VOLUME FOR ALL PROPERTIES AMOUNTS TO
APPROXIMATELY EUR
16.9 MILLION
    * DKR IS ALSO IN MIDDLE OF FURTHER CONCRETE PURCHASE
PROCESSES AND
EXPECTS TO MAKE FURTHER ACQUISITIONS SHORTLY.
    * TOTAL ANNUAL RENT OF EUR 1.5 MILLION, WHICH RESULTS IN A
RETURN
ON INVESTMENT OF APPROXIMATELY 9%
    * EXTENDED EMPLOYMENT CONTRACTS OF MANAGEMENT BOARD MEMBERS
ALEXANDER KROTH (CIO) AND CHRISTIAN HELLMUTH (CFO), WHICH EXPIRE
ON 30 JUNE 2020, BY THREE YEARS
    * ACQUISITIONS INCLUDE A LOCAL RETAIL CENTRE IN ZERBST
(SAXONY-ANHALT), FOOD ANCHOR TENANT NETTO (EDEKA), ACTION AND
TAKKO WITH REMAINING RENTAL PERIOD OF 5 YEARS
    * IN ADDITION, A LOCAL RETAIL CENTRE IN RÖVERSHAGEN
(MECKLENBURG-WEST POMERANIA) WAS ACQUIRED
    * RETAIL PARK IN STENDAL (SAXONY-ANHALT) WITH A TOTAL RENTAL
AREA
OF AROUND 19,800 M² WAS ACQUIRED

Source text for Eikon:  ID:nEQ5ZjW8Ya 
Further company coverage:  DKG.DE 

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