Deutsche Industrie REIT-AG acquires three commercial properties in Metzingen, Sembach and Gevelsberg for TEUR 17,300

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DGAP-News: Deutsche Industrie REIT-AG / Key word(s): Acquisition17.11.2020 / 07:30 The issuer is solely

Deutsche Industrie REIT-AG acquires three commercial properties in Metzingen, Sembach and Gevelsberg for TEUR 17,300

DGAP-News: Deutsche Industrie REIT-AG / Key word(s): Acquisition
17.11.2020 / 07:30
The issuer is solely responsible for the content of this announcement.

Deutsche Industrie REIT-AG acquires three commercial properties in Metzingen, Sembach and Gevelsberg for TEUR 17,300

Rostock, 17 November 2020 - Deutsche Industrie REIT AG (ISIN DE000A2G9LL1) acquires three commercial properties in Metzingen, Sembach and Gevelsberg.

The city of Metzingen (Baden-Württemberg) is located around 30 km south of the state capital Stuttgart and is especially known for its numerous factory outlets of the fashion industry. The acquired logistics property includes an automated high-bay warehouse and an integrated multi-storey office wing. The property is currently solely rented out to a well-known international fashion company which is based in Metzingen and used as a distribution hub. The office space is currently used for in-house exhibitions and creative departments. The total rentable effective area of the property, which measures around 13,286 sqm of land area, is approx. 16,676 sqm. The annual net cold rent of the current leases is currently around TEUR 517, the average remaining lease term is around 8.1 years. The purchase price of the transaction was TEUR 5,500, resulting in a gross initial yield of approximately 9.4%.

The property in Sembach near Kaiserslautern (Rhineland-Palatinate) is an industrial park with a total lettable area of approx. 16,100 sqm on a plot of land measuring approx. 20,800 sqm. The location is not far from the A63/A6 freeway junction and thus offers an advantageous connection to Kaiserslautern and Mannheim. The annual net cold rent of approximately TEUR 439 is mainly composed of two anchor leases. The tenants are active in mechanical engineering and in plastics processing. The weighted remaining lease term is 12.5 years, while the vacancy rate is only at 4.4%. The purchase price amounts to TEUR 4,800, which results in an initial yield of approximately 9.1%.

The city of Gevelsberg (North Rhine-Westphalia) is located about 18 km northeast of Wuppertal. A business park with a total lettable area of approx. 25,480 sqm was acquired here. The approx. 33,169 sqm large property is characterized by a very good supra-regional transport connection via the A1 into the Ruhr area. The tenant mix is broadly diversified with a total of 76 tenancies and offers further potential for re-letting with a vacancy rate of approx. 20%. The annual net cold rent is around TEUR 700, the WALT is around 4.2 years. The property was acquired for a purchase price of TEUR 7,000, which results in an initial yield of approx. 10%.

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Detailed information on Deutsche Industrie REIT-AG can be found at:
https://deutsche-industrie-reit.de/en/

Contact:
Deutsche Industrie REIT-AG
Mr René Bergmann
Chief Financial Officer
August-Bebel-Str. 68
14482 Potsdam
Tel. +49 331 740 076 535


17.11.2020 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.

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Language:English
Company:Deutsche Industrie REIT-AG
August-Bebel-Str. 68
14482 Potsdam
Germany
Phone:+49 331 740076 5 - 0
Fax:+49 331 / 740 076 520
E-mail:rb@deutsche-industrie-reit.de
Internet:www.deutsche-industrie-reit.de
ISIN:DE000A2G9LL1, DE000A2GS3T9, DE000A2YNQU1
WKN:A2G9LL, A2GS3T, A2YNQU
Listed:Regulated Market in Berlin, Frankfurt (Prime Standard)
EQS News ID:1148509


 
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