DGAP-News: Deutsche Industrie REIT-AG refinances eleven properties with EUR 42 million in bank loans

Deutsche Industrie REIT-AG refinances eleven properties with EUR 42 million in bank loans

Rostock, April 10, 2019 - Deutsche Industrie REIT-AG (ISIN DE000A2G9LL1) has refinanced eleven of its properties by taking out a loan of EUR 42 million.

The loan has a maturity and fixed interest rate of ten years with an interest rate of 2.01% and is secured by corresponding land charges. The eleven objects are production and logistics properties spread throughout Germany, as well as industrial parks. This mixture represents examplarily the portfolio of the DIR.

As a result of the new loan, the share of banks and savings banks in total debt financing will increase to 36%, the remainder being accounted for by the secured bond. The average interest rate decreases to 3.33%. The average residual maturity increases to 6.6 years.

"This is another important step in building our financing structure, and we are pleased to continue expanding the relationship with one of our banking partners," commented CFO René Bergmann on the transaction.

The funds released will be used for further growth through the purchase of Light Industrial real estate. Currently, the company is already in promising negotiations to acquire new properties.

Deutsche Industrie REIT-AG:
Deutsche Industrie REIT-AG invests sustainably in Light-Industrial real estate in Germany. In addition to the activities of warehousing and distribution of goods, Light Industrial also covers their administration and production. The asset class consists mainly of medium to large industrial and commercial park areas. The areas are usually more complex than pure logistics real estate and have a high local relevance. The share is listed on the regulated market of Berlin Stock Exchange and in the Prime Standard of the Frankfurt Stock Exchange. Since the beginning of 2018, the company has been granted the status of a real estate investment trust (REIT) and the related income tax exemption.