International News

Deutsche Konsum-REIT AG acquires 3 food anchored retail assets

Rolf Elgeti, CEO of Deutsche Konsum REIT-AG.

Deutsche Konsum REIT-AG has acquired 3 food anchored retail properties for approx. €6.5 million by notarial deeds in individual transactions.

The assets comprise of a discounter in Gotha (Thuringia), a local retail centre in Meinerzhagen (North Rhine-Westphalia) and a local retail property in Stadtroda (Thuringia) with a combined rental area of around 7 200m2. With an annualised rent of TEUR 557, the average acquisition yield is 8.6% with a weighted average lease term (WALT) of 4.3 years and a vacancy rate of 1.6%.

During its current financial year (2021/2022), DKR has acquired 13 non-cyclical and mainly food-anchored retail properties with a rental area of +- 52 300m2 and an annual rent of approximately €3.8 million – €44.4 million, corresponding to an initial yield of 8.5% on average. The average WALT is 5.8 years with a vacancy rate of around 7.4%.

Considering all notarised acquisitions and sales, its pro forma portfolio comprises of 176 properties with a total lettable area of around 1.03 million square metres and a balance sheet value of €991 million. The company’s portfolio currently generates an annual rent of €72.5 million.