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DEUTSCHE KONSUM REIT-AG

(DKG)
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PRESS RELEASE: Deutsche Konsum REIT acquires Spitzkrug Multi Center in Frankfurt/Oder

04/26/2021 | 01:16am EDT
DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Acquisition/Real Estate 
Deutsche Konsum REIT acquires Spitzkrug Multi Center in Frankfurt/Oder 
2021-04-26 / 07:15 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Presse release 
Deutsche Konsum REIT acquires Spitzkrug Multi Center in Frankfurt/Oder 
Broderstorf, 26 April 2021 - Deutsche Konsum REIT-AG ("DKR") (ISIN DE000A14KRD3) has acquired the Spitzkrug Multi 
Center ("SMC") 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 m² and is let to major anchor tenants such as Kaufland, Rossmann and Dänisches Bettenlager. Other tenants 
include Medimax, Adler Modemärkte, 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. 
Furthermore, a financing agreement has already been concluded with a German mortgage bank to take out a secured 
five-year loan with an attractive interest rate of less than 1% per annum to refinance the SMC. 
Thus, the total portfolio (pro forma) currently comprises 173 properties with a total rental area of more than one 
million square metres and a balance sheet value of around EUR 920 million. The portfolio currently generates an annual 
rent of around EUR 73 million, which means that the FFO run rate of the secured property portfolio is currently around 
EUR 46 million (forecast as at 30 September 2021: FFO run rate between EUR 47 million and EUR 51 million). 
DKR is also in the process of further concrete acquisitions and expects further acquisitions in the near future. 
About Deutsche Konsum 
Deutsche Konsum REIT-AG, headquartered in Broderstorf, is a listed real estate company focusing on retail properties in 
Germany for goods required for daily use in well-established micro-locations. The focus of the Company's activities is 
on the acquisition, management and development of convenience retail properties with the aim of achieving a steady 
increase in value and the realisation of hidden reserves. 
Due to its (German) REIT status ('Real Estate Investment Trust'), the Company is exempt from German corporation and 
trade tax. The shares of the Company are listed on the Prime Standard of the Deutsche Boerse (ISIN: DE 000A14KRD3) and 
on the Johannesburg Stock Exchange (South Africa) by way of a secondary listing. Further information on the Company can 
be found at https://www.deutsche-konsum.de/en/. 
Contact: 
Deutsche Konsum REIT-AG 
Stefanie Frey 
Investor Relations 
E-Mail: sf@deutsche-konsum.de 
Phone: +49 (0) 331 74 00 76 - 533 
=---------------------------------------------------------------------------------------------------------------------- 
2021-04-26 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
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, 
              Hamburg, Munich, Stuttgart, Tradegate Exchange; JSE Securities Exchange 
EQS News ID:  1187676 
 
End of News   DGAP News Service 
=------------ 

1187676 2021-04-26

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1187676&application_name=news 
 

(END) Dow Jones Newswires

April 26, 2021 01:15 ET (05:15 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
ADLER GROUP S.A. -3.78% 20.38 Delayed Quote.-29.72%
ADLER MODEMÄRKTE AG 0.41% 0.484 Delayed Quote.-78.58%
CENTRAL RETAIL CORPORATION PUBLIC COMPANY LIMITED -0.81% 30.75 End-of-day quote.0.00%
DEUTSCHE KONSUM REIT-AG 0.00% 14.6 Delayed Quote.-7.01%
DJ INDUSTRIAL 0.80% 35116.4 Delayed Quote.14.14%
DOW JONES AFRICA TITANS 50 INDEX -0.01% 526.67 Delayed Quote.-0.45%
DOW JONES SOUTH AFRICA(ZAR) 0.00% 1897.47 Delayed Quote.8.39%
JSE LIMITED -1.25% 102.35 End-of-day quote.-9.02%
S&P AFRICA 40 INDEX 0.36% 171.64 Delayed Quote.-1.16%
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Financials
Sales 2021 69,6 M 82,6 M 82,6 M
Net income 2021 62,0 M 73,5 M 73,5 M
Net Debt 2021 494 M 586 M 586 M
P/E ratio 2021 8,46x
Yield 2021 3,66%
Capitalization 513 M 609 M 609 M
EV / Sales 2021 14,5x
EV / Sales 2022 13,7x
Nbr of Employees 22
Free-Float 43,6%
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Number of Analysts 4
Last Close Price 14,60 €
Average target price 18,15 €
Spread / Average Target 24,3%
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Managers and Directors
Rolf Elgeti Chairman-Management Board
Christian Hellmuth Chief Financial Officer
Hans-Ulrich Sutter Chairman-Supervisory Board
Alexander Kroth Chief Investment Officer
Achim Betz Deputy Chairman-Supervisory Board