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Deutsche Konsum REIT-AG expects a devaluation of its property portfolio and the loss of its tax exemption as a REIT
Deutsche Konsum REIT-AG expects a devaluation of its property portfolio and the loss of its tax exemption as a
About this update from Deutsche Konsum Real Estate Ag
[{"type":"text","content":"\nEQS-Ad-hoc: Deutsche Konsum REIT-AG / Key word(s): Miscellaneous\n\nDeutsche Konsum REIT-AG expects a devaluation of its property portfolio and the loss of its tax exemption as a REIT \n21-Jul-2025 / 18:41 CET/CEST\n\nDisclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group.\n\nThe issuer is solely responsible for the content of this announcement.Publication of inside information in accordance with Art. 17 para. 1 of Regulation (EU) 596/2014 on market abuse (market abuse regulation)Deutsche Konsum REIT-AG expects a devaluation of its property portfolio and the loss of its tax exemption as a REITPotsdam, 21 July 2025 –Deutsche Konsum REIT-AG (\"Company\") (ISIN: DE000A14KRD3 | WKN: A14KRD | ticker symbol: DKG) has today received from the valuation service provider the preliminary results for the valuation of its real estate portfolio as of 30 June 2025. At approximately EUR 794 million, the revaluation of the portfolio is expected to be around 4,9% % (like-for-like) below the level as of 30 September 2024, resulting in a non-cash impairment requirement of approximately EUR 41 million, which will have a negative impact on earnings at the end of the third quarter of the 2024/2025 financial year.\n\nAgainst this background, the Company will probably not meet the equity ratio requirement under the German REIT Act (REIT-Gesellschaft) of at least 45% by the end of the 2024/2025 financial year, i.e. 30 September 2025. As the Company has already failed to meet this requirement as of 30 September 2023 and 30 September 2024, the tax exemption as a REIT is expected to end on 30 September 2025. The resulting effects have already been taken into account as a precaution in the current draft of the Restructuring Plan.\n\nIn addition, the Company is still in restructuring negotiations with its creditors. The restructuring capital increase announced in the notification dated 29 May 2025 is now expected to be resolved by an Extraordinary General Meeting in autumn 2025. The current restructuring plan envisages property disposals with sales proceeds of EUR 300 to 350 million by the end of 2027. The Company is still aiming to finalise the restructuring negotiations by the end of August 2025.Contact:\n\nDeutsche Konsum REIT-AG\n– Management Board –\nMarlene-D...