Like Sirius Real Estate, Schroder Pan European, EPP, Hammerson and Globe Trade Centre, which all have secondary listings on the JSE, Deutsche Konsum REIT hopes to appeal to South African investors’ appetite for offshore property investments.
The company will list in the Retail REITs sector of the JSE under the abbreviated name DKR. With a market capitalisation of about €557-million, the company invests in convenience retail properties in micro-locations in the central and regional areas of Germany outside of major cities and is listed on the Frankfurt Stock Exchange.
The DKR real estate portfolio will consist of 165 convenience retail properties with a market value of about €829-million.