TLG IMMOBILIEN invests EUR 113.8 m in two off-market acquisitions of 28 retail assets
DGAP-News: TLG IMMOBILIEN AG / Key word(s): Acquisition/Real Estate
- 28 retail properties providing local supply acquired in two off-market transactions
- Properties spread across different - mainly western German (78%) - states
- Purchase price: EUR 111.5 m, total investment: EUR 113.8 m
- Total annualised in-place rent: EUR 8.1 m, total in-place rental yield: approx. 7.2%
- Total EPRA Vacancy Rate: approx. 5.8%, total WALT: 5.5 years
- Anchor tenants across all properties: Food retailer Rewe, Edeka, Kaufland and Penny
In total, these 28 retail locations generate an annualised in-place rent of around EUR 8.1 m and an in-place rental yield of around 7.2%. The weighted average lease term (WALT) of the rental agreements is 5.5 years. The vacant space currently amounting to around 5.8% will be utilised to optimise the use of space and the tenant mix. Essentially, the anchor tenants in the portfolio are REWE, EDEKA, Kaufland and Penny.
Regionally, the properties are distributed as follows by property value:
The properties have been built in different years with some having been restored or expanded only recently. All of the properties provide local supply with everyday goods in their established local catchment areas and as such represent an excellent addition to the retail portfolio of TLG IMMOBILIEN.
About TLG IMMOBILIEN AG
As at 30 September 2017, the property value amounted to EUR 2.4 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 20.00.
This publication contains forward-looking statements based on current views and assumptions of TLG IMMOBILIEN AG's management and made to the best of knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause TLG IMMOBILIEN AG's revenues, profitability or the degree to which it performs or achieves its targets, to materially deviate from what is explicitly or implicitly stated or described in this publication. Therefore, persons who obtain possession of this publication should not rely on such forward-looking statements. TLG IMMOBILIEN AG accepts no guarantee or responsibility regarding such forward-looking statements and will not adjust them to future results or developments.
09.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||TLG IMMOBILIEN AG|
|Phone:||030 - 2470 - 50|
|Fax:||030 - 2470 - 7337|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|