Deutsche Konsum REIT-AG has acquired the Spitzkrug Multi Center in Frankfurt/Oder (Brandenburg) by notarial deed. The SMC was built in 1994 and extensively revitalised in 2018 and is a central retail and local supply property in the university city of Frankfurt/Oder as well as in the wider area. The centre is located in an attractive commercial and specialist retail agglomeration and is well established at the location. The SMC comprises a total lettable area of around 25,000 m- and is let to major anchor tenants such as Kaufland, Rossmann and D-nisches Bettenlager. Other tenants include Medimax, Adler Modem-rkte, Takko, Deichmann, Fressnapf and others, representing a stable tenant mix from which, however, further potential for improvement can be realised. The annualised annual rent is currently approx. EUR 3.5 million with a WALT of approx. 7.5 years and a current vacancy rate of approximately 7%. The parties have agreed not to disclose the purchase price, but the yield is within the attractive range envisaged by DKR. The transfer of benefits and encumbrances is planned for 1 July 2021.