Deutsche Konsum buys Vita-Center in Chemnitz
Deutsche Konsum Reit (DKR) is buying the Vita-Center in Chemnitz in what will be the company’s largest single transaction to date. The district center was built in 1999 and revitalized in 2018. It has 42,000 sqm lettable space, 21 % of which is currently vacant. 70 % of the annual rental income of more than €2.9mn comes from retail space and about 10 % from office space, as well as an indoor trampoline and climbing park. Tenants include Rewe, Aldi, dm, and the city library. The average remaining lease terms are more than 7 years. At the same time, DKR has arranged the purchase of four discount markets in Eggesin and Lübz (Mecklenburg-Western Pomerania) and in Döberitz and Fürstenwalde (Brandenburg) leased to Netto, Lidl, Norma, and KiK and Tedi. The purchase prices add up to €40.6mn with annual rent of about €3.4mn. The Vita-Center previously belonged to Oaktree.
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