Rostock, 16 March 2020 - Deutsche Industrie REIT AG (ISIN DE000A2G9LL1) acquires three commercial properties in Mönchweiler, Osterwieck and Hude and obtains 'central bank eligibility' through the Deutsche Bundesbank
DGAP-News: Deutsche Industrie REIT-AG / Key word(s): Acquisition/Financing
Rostock, 16 March 2020 - Deutsche Industrie REIT AG (ISIN DE000A2G9LL1) acquires three commercial properties in Mönchweiler, Osterwieck and Hudeand obtains 'central bank eligibility' through the Deutsche Bundesbank
The acquired asset in Mönchweiler (Baden-Wuerttemberg) is a former production plant of a German kitchen manufacturer with a rental area of c. 32,200 sqm. First letting successes are currently being achieved after the former owner recently moved out. The rent level rose to c. 169 k€ while the vacancy rate currently sits at approx. 89%. In addition to the recently refurbished buildings and technical facilities, the property also offers the possibility of potentially selling a large sub area of the c. 121,000 sqm property. The property is located near Villingen-Schwenningen, on the economically strong corridor between Zurich and Stuttgart. It has an advantageous connection to the B33. The purchase price amounts to 8,900 k€.
The property in Osterwieck (Saxony-Anhalt) was acquired as part of a sale-and-lease back process and consists of the self-used company headquarters of a digital marketing company. The property provides a rental area of c. 6,800 m² on an approx. 22,000 m² property. The annual rent of 336 k€ was agreed upon as part of a sale-and-lease back contract with a term of 10 years plus 2 x 5 years extension option. The purchase price of 2,850 k€ results to a gross initial yield of c. 11,8%.
The property in Hude near Oldenburg is a production/logistics estate with a total rental area of c. 16,100 sqm on a c. 20,800 sqm plot of land. The property is located near to the B212, which forms a convenient connection to Bremen and the A1 via the A28 motorway. Part of the rental space was leased back as part of the transaction as a sale-and-lease back with a term of 5 years plus 3 x 3 years option. Together with the already existing lease, this results in thus an annual rent of around 281 k€ and a WALT of 2.9 years. The vacancy rate is approx. 14.2%. The purchase price amounts to 2,350 k€, resulting in a gross initial yield of approx. 11.9%.
Eligibility status obtained
Following a creditworthiness analysis by the Deutsche Bundesbank, DIR has for the first time achieved the status of central bank eligibility. This enables institutional loan and bond creditors of DIR to refinance with the Bundesbank. As a result, the cost of debt is expected to continue to fall in future funding and refinancing.
Detailed information on Deutsche Industrie REIT-AG can be found at:
Deutsche Industrie REIT-AG
Mr René Bergmann
Chief Financial Officer
Tel. +49 331 740 076 535
|Company:||Deutsche Industrie REIT-AG|
|Phone:||+49 331 740076 5 - 0|
|Fax:||+49 331 / 740 076 520|
|ISIN:||DE000A2G9LL1, DE000A2GS3T9, DE000A2YNQU1|
|WKN:||A2G9LL, A2GS3T, A2YNQU|
|Listed:||Regulated Market in Berlin, Frankfurt (Prime Standard)|
|EQS News ID:||997685|
|End of News||DGAP News Service|