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Deutsche Konsum REIT sells seven retail properties at a significant profit

·2-min read

Deutsche Konsum REIT-AG / Key word(s): Real Estate/Disposal
Deutsche Konsum REIT sells seven retail properties at a significant profit

29-Sep-2021 / 18:26 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Publication of an inside information pursuant to Article 17 MAR

Deutsche Konsum REIT sells seven retail properties at a significant profit

Broderstorf, 29 September 2021 - Deutsche Konsum REIT-AG ("DKR") (ISIN DE000A14KRD3) today notarised the sale of seven retail properties with the approval of the Supervisory Board.

The sub-portfolio comprises a total rental area of 28,000 sqm of rental space and includes the properties in Bad Harzburg, Verden, Bergen and Krempe as well as Niesky (Rothenburger Straße), Krakow am See and Altentreptow (Fritz-Reuter-Straße). In all properties, DKR had reduced existing vacancies and significantly extended leases since acquisition. The properties currently generate an annual rent of EUR 2.6 million with a remaining lease term of approximately nine years. The sale price of EUR 47.2 million is therefore 18 times the annual rent. The transfer of benefits and encumbrances of all properties is expected by January 2022.

Half of the capital gain realised in the financial year 2021/2022 is to be distributed as an additional dividend in accordance with the statutes of a REIT. The dividend for the upcoming financial year will therefore be approximately 25 euro cents per share higher from this sale alone. The other half is to be used in accordance with DKR's investment criteria for the acquisition of further properties or for other measures that increase shareholder value.

Contact:

Deutsche Konsum REIT-AG
Mr. Christian Hellmuth
Chief Financial Officer
August-Bebel-Str. 68
14482 Potsdam
Phone: +49 331 74 00 76 517
Fax: +49 331 74 00 76 520
E-Mail: ch@deutsche-konsum.de

29-Sep-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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, Munich, Stuttgart, Tradegate Exchange; JSE Securities Exchange

EQS News ID:

1236803


 

End of Announcement

DGAP News Service

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