DGAP-News: Deutsche Industrie REIT-AG acquires five commercial properties in Linthe, Altlandsberg, Westhausen, Hanover and Bocholt

Deutsche Industrie REIT-AG acquires five commercial properties in Linthe, Altlandsberg, Westhausen, Hanover and Bocholt

Rostock, 01/08/2019 - Deutsche Industrie REIT-AG (ISIN DE000A2G9LL1) has made five further acquisitions of light industrial properties in Linthe (Brandenburg), Altlandsberg (Brandenburg), Westhausen (Baden-Wuerttemberg), Hanover (Lower Saxony) and Bocholt (North Rhine-Westphalia).

The logistics property in Linthe, located directly next to the A9 motorway, is currently almost completely vacant. After the change of ownership, the Deutsche Industrie REIT-AG will do some reconstruction measures in order to start with the letting afterwards. The property consists of a warehouse, an office building and three single-family houses with a total rental area of 13,025 sqm. The purchase price amounts to kEUR 3,200.

The property in Altlandsberg is a deep-freeze warehouse located close to Berlin with excellent access to the A10 motorway. The Single Tenant property is fully rented by a well-known wholesale and retail company. The rental area of the property is approx. 11,500 sqm. The annual net rent is approx. kEUR 495, with the fixed term of the lease running until the end of 2023. Based on the purchase price of kEUR 6,000, the net initial yield is approx. 8.2%.

The industrial park located in Westhausen has a good connection to the A7 motorway and to the public transport infrastructure. The property has a total rental space of approx. 16,200 sqm, of which approx. 26% is currently vacant. The rental space is primarily let to local tradespeople. The annual net rent of the property is around kEUR 744 with a WALT of approx. 3.6 years. The agreed purchase price for the asset is kEUR 9,000, which represents an initial net yield of 8.3%.

The property in Hanover is a commercial park close to the A2 motorway. In total, the three warehouses and the office building have a rental area of around 24,500 sqm, with the vacancy rate currently standing at approx. 23%. The property currently generates an annual net rent of approx. kEUR 896 with a WALT of approx. 2 years. The net initial yield for the purchase price of kEUR 9,800 is approx. 9.1%.

The logistics property in Bocholt is well connected to the highly frequented B67 federal highway, which crosses the A3 motorway near the Dutch border. Except for one external tenant, the property has been used entirely by the seller himself for many years. As part of the sale-and-lease-back transaction, a lease agreement with a term of 10 years was concluded with the seller. The property has a total rental area of 12,700 sqm and generates an annual net rent of kEUR 600 with the newly concluded lease agreement. The purchase price is TEUR 6,300, which represents an initial net yield of 9.5%.

The total transaction volume thus amounts to kEUR 34,300.

Detailed information about the German Industry REIT-AG can be found under:
https://www.deutsche-industrie-reit.de/en/