Deutsche Konsum REIT-AG
LSE:0RDE
Deutsche Konsum REIT-AG
Deutsche Konsum REIT-AG is a real estate investment company, which focuses on retail properties for goods required for daily use in established micro-locations. The company is headquartered in Potsdam, Brandenburg and currently employs 28 full-time employees. The company went IPO on 2015-12-15. The company focuses on the acquisition, rental, inventory management, and sale of retail properties across Germany, with focus on regional centers and micro-locations in the northern and eastern part of Germany.
Deutsche Konsum REIT-AG is a real estate investment company, which focuses on retail properties for goods required for daily use in established micro-locations. The company is headquartered in Potsdam, Brandenburg and currently employs 28 full-time employees. The company went IPO on 2015-12-15. The company focuses on the acquisition, rental, inventory management, and sale of retail properties across Germany, with focus on regional centers and micro-locations in the northern and eastern part of Germany.
Rental Income: Rental income declined by 4.4% year-over-year to EUR 16.9 million, mainly due to asset sales.
FFO Growth: Funds From Operations (FFO) increased by about 57%, driven primarily by lower interest expenses.
Asset Sales & Restructuring: The company sold 8 properties for EUR 34.7 million, with two sales closed in the quarter, and is actively marketing further assets—sometimes below book value.
Debt & LTV: Loan-to-value improved to 56.4% (and could fall to ~41% pro forma after the pending capital increase and debt-to-equity swap).
Vacancy Rate: Vacancy rate fell to 13.6% from 14.2% after divesting a highly vacant property.
Interest Costs: Average debt cost dropped to 2.92% due to non-interest-bearing instruments, but is expected to rise again post-capital increase.
Capital Increase: A major capital increase and debt-to-equity swap are awaiting registration, with about 59.4 million new shares to be issued.
Net Asset Value: Pro forma net asset value per share is expected to be around EUR 4 after the capital increase.
