Deutsche Konsum REIT-AG (DKR) has acquired three retail properties with non-cyclical tenants for a total purchase price of approximately €6.1 million.
With an annualised rent of 525 thousand Euros (TEUR), this results in an average purchase yield of 8.6%, a weighted average lease term (WALT) of 3.9 years and a vacancy rate of 3.0%.
The three retail properties are a grocery discounter in Hattorf am Harz (Lower Saxony), a retail store in Brikenfeld (Rhineland-Palatinate) and a local retail centre in Dessau- Roßlau (Saxony-Anhalt) by notarial deeds in individual transactions.
Simultaneously, a vacant property in Beratzhausen (Bavaria) and a DIY store in Neumünster (Schleswig-Holstein) were sold at attractive conditions.
During its current financial year 2021/2022, DKR has already acquired 10 non-cyclical and mainly food-anchored retail properties for around €38 million. These assets represent a rental area of approximately 45 100m2 and an annual rent of +- €3.2 million, corresponding with an initial yield of 8.4%, a weighted average lease term of 5.9 years and a vacancy rate of around 8.3%.
DKR also notarised the sale of its portfolio properties in Beratzhausen and Neumünster during the first quarter of the financial year for a total sales price of around €4.6 million.
Including all notarised acquisitions and sales, its pro forma portfolio now comprises of 173 properties with a total lettable area of approximately 1.03 million sqm and a balance sheet value of €981 million. The portfolio currently generates an annual rent of €72 million.