Deutsche Konsum acquires Kaufland market in Oer-Erkenschwick
Deutsche Konsum REIT has acquired a hypermarket in Oer-Erkenschwick, North Rhine-Westphalia. The purchase price for the 9,600 sqm, fully rented property at Berliner Platz amounts to €13.5mn. The anchor tenant is Kaufland; the term of the rental agreement lasts until 2030 with two options to extend for an additional 14 years. The annual rent amounts to approx. €1.3mn; Deutsche Konsum estimated the purchase yield to be about 9.4%. The transfer of ownership is scheduled for 1 June.
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