Deutsche Konsum REIT-AG Q4 2019 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Andrew Gibbs - Otus Capital - Analyst : Hi, Rolf. Morning. Just a quick question on those new properties you've acquired. So, slide 9 and 10, they still seem to have WALTs at the point of purchases -- well, so some are between six, seven years as one or two years. That's obviously longer I think than the earlier business model would suggest and obviously removed a little bit of the upside of renegotiating leases further out as a result of your input to what you're doing, I guess two questions here. One, why are the 9%, 10% yields with those length leases? And two, what does it say about the pipeline with regards to those short-leased opportunities that you're finding that you can then add value to and extend the lease on?

Question: Andrew Gibbs - Otus Capital - Analyst : Okay. That's fine. I'll get back.

Question: George Kanders - Bankhaus Lampe - Analyst : Hi, good morning, Mr. Rolf. One question regarding what kind of acquisition volume have you foreseen for the current year? What's -- probably more what's in the guidance? And the other question I have is regarding this seasonal effects in the service charge income. Can you elaborate a little bit on this? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: George Kanders - Bankhaus Lampe - Analyst : But this -- this means then when the portfolio more or less increases when we do less acquisitions at least one [sort of] noise will be smaller in the future, yeah?

Question: George Kanders - Bankhaus Lampe - Analyst : Okay, thank you.

Question: Kai Klose - Berenberg - Analyst : And its amount, would this be in terms of CapEx, roughly? Will it be the same EUR4.5 million last year or more?

Question: Kai Klose - Berenberg - Analyst : Okay. Thank you so much.