DGAP-News: Deutsche Industrie REIT-AG has acquired a warehouse in Solingen (North Rhine-Westphalia).

Deutsche Industrie REIT-AG acquires property in Solingen

Rostock, 29 October 2018 - Deutsche Industrie REIT-AG (ISIN DE000A2G9LL1) has acquired a warehouse in Solingen (North Rhine-Westphalia).

Solingen is located in the metropolitan region of Rhineland. Thanks to the location of numerous manufactures of knives and kitchenware, Solingen is the centre of the German cutlery industry. The warehouse is due to the federal road B224 well connected to the A1, A3 and A46. The property has a leasable area of 25,537 sqm and generates an annual rent of kEUR 1,012. The current occupancy rate is 97%. With more than 80% of the annualised rental income, the Zwilling J.A. Henckels is the main tenant of the property. The fixed term of the lease runs until 30.06.2020. In addition, there are four extension options, each of three years. The net initial yield is 10.6 % at a purchase price of EUR 9.6 million.

Considering the latest transactions, Deutsche Industrie REIT-AG now has a total portfolio of 34 properties with an area of approx. 719,000 sqm and an annualised total rent of approx. EUR 22.8 million.
Detailed information about the Deutsche Industrie REIT-AG can be found under: https://www.deutsche-industrie-reit.de/en/