Deutsche Konsum REIT-AG sells 14 retail properties

Deutsche Konsum REIT-AG, the Germany based real estate investor focusing on retail properties, has sold a sub-portfolio consisting of 14 retail properties with an annual rent of around EUR 5.5m. The properties were sold at a discount of around 3.8% on the current IFRS carrying amounts. The buyer is an undisclosed Germany based institutional real estate investor. The sub-portfolio comprises a total rental area of around 72,000 sqm at the locations Ludwigslust, Guben (Karl-Marx-Straße), Stendal (Nordwall), Hohenmolsen, Aschersleben, Tangerhütte, Eisenhüttenstadt (Karl-Marx-Straße), Seebach, Elsterwerda, Eggesin, Lübz, Lübtheen, Staßfurt (Neundorfer Straße) and Osterfeld. The sub-portfolio is made up of various property types – from free-standing food discounters to regionally dominant retail parks.