Brief: Deutsche Konsum REIT Sells Seven Retail Properties

Deutsche Konsum Real Estate AG

29/09/2021 17:29

Sept 29 (Reuters) - DEUTSCHE KONSUM REIT AG  DKG.DE :
    * SELLS SEVEN RETAIL PROPERTIES AT A SIGNIFICANT PROFIT
    * PROPERTIES CURRENTLY GENERATE AN ANNUAL RENT OF EUR 2.6
MILLION
WITH A REMAINING LEASE TERM OF APPROXIMATELY NINE YEARS
    * SALE PRICE OF EUR 47.2 MILLION IS THEREFORE 18 TIMES
ANNUAL RENT
    * TRANSFER OF BENEFITS AND ENCUMBRANCES OF ALL PROPERTIES IS
EXPECTED BY JANUARY 2022
    * HALF OF CAPITAL GAIN REALISED IN FINANCIAL YEAR 2021/2022
IS TO
BE DISTRIBUTED AS AN ADDITIONAL DIVIDEND IN ACCORDANCE WITH
STATUTES OF A REIT
    * DIVIDEND FOR UPCOMING FINANCIAL YEAR WILL THEREFORE BE
APPROXIMATELY 25 EURO CENTS PER SHARE HIGHER FROM THIS SALE
ALONE
    * OTHER HALF IS TO BE USED IN ACCORDANCE WITH DKR'S
INVESTMENT
CRITERIA FOR ACQUISITION OF FURTHER PROPERTIES OR FOR OTHER
MEASURES THAT INCREASE SHAREHOLDER VALUE

Source text for Eikon:  ID:nEQ6xdnT8a 
Further company coverage:  DKG.DE 

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