DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE AG grows to EUR 1.4 billion through further portfolio acquisitions
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Real Estate/Expansion
- DEMIRE acquires five department stores for EUR 71 million
- All properties are fully leased to Karstadt on a long-term basis
Langen, 27 May 2019 - DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) has acquired five department stores for EUR 71.0 million in the scope of a share deal. The properties are located in central inner city locations of German potential cities. The weighted average lease term (WALT) on the fully leased properties is 14.4 years, which has a positive effect on the WALT of DEMIRE's overall portfolio. The properties will initially contribute around EUR 3.1 million per year to FFO I before taxes and minority interests. Transfer of ownership is planned for the second half of 2019.
Ingo Hartlief, CEO of DEMIRE, says: "The second portfolio acquisition in 2019 increases our property portfolio to a total of approximately EUR 1.4 billion, corresponding to external growth of around 21 percent in the current fiscal year. This acquisition diversifies our recently expanded portfolio of offices while keeping the ratio of retail properties constant. The realisation of growth potentials is a core element of the DEMIRE strategy."
DEMIRE - Deutsche Mittelstand Real Estate AG
DEMIRE - First in Secondary Locations
The portfolio focus on office, retail and logistics assets results in exactly the kind of risk/return structure that DEMIRE considers appropriate for the business line of commercial real estate. The Company puts a premium on long-term contracts with solvent tenants in anticipation of stable and sustainable rent revenues. DEMIRE has set itself the goal to keep optimising its corporate structure. To this end, it pursues an active property management approach, convinced that it is the best way to achieve economies of scale and portfolio optimisations. DEMIRE Deutsche Mittelstand Real Estate AG shares (ISIN: DE000A0XFSF0) are listed in the Prime Standard segment of the Frankfurt Stock Exchange.
|Company:||DEMIRE Deutsche Mittelstand Real Estate AG|
|Robert-Bosch-Straße 11 im 'the eleven'|
|63225 Langen (Hessen)|
|Phone:||+49 6103 37249-0|
|Fax:||+49 6103 37249-11|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange|
|EQS News ID:||815519|
|End of News||DGAP News Service|