Defama has acquired two properties so far in the current year. That this would not stay that way became clear at the latest during the virtual IR trip by Rüttnauer Research a few days ago. Defama boss Matthias Schrade said there that many smaller objects were being examined. He expected further acquisitions in the current year.
A few days later, Schrade put this into practice. Defama buys three specialist stores in Heidenheim (Baden-Württemberg), Michelstadt (Hesse) and Ochsenfurt (Bavaria). Defama is thus becoming more active in southern Germany. Society has hardly been represented here so far. Schrade justifies this with purchase prices that are too high. The company listed in m: access is putting 3.3 million euros on the table for the three current properties.
Dänisches Bettenlager is represented in all three specialist stores acquired. There doesn’t seem to be any other tenants. This is unusual for Defama as you typically buy centers with multiple tenants. The three acquisitions have a total rentable area of 3,100 square meters. The additional income is around 0.3 million euros annually.
Defama will thus achieve an annualized annual net rent of more than 14 million euros. The annualized FFO is 6.9 million euros, or 1.56 euros per share. In the next two to three years, the FFO per share should exceed the threshold of EUR 2.00. Schrade explains this on the virtual IR drive. The growth should therefore continue and the portfolio will be expanded further in the coming years.