Deutsche Wohnen acquires around 2,600 residential units
(firmenpresse) - Deutsche Wohnen AG / Key word(s): Enterprise/
Deutsche Wohnen acquires around 2,600 residential units
DGAP-Media / 03.10.2011 / 15:30
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Frankfurt/Main and Berlin, 3 October 2011. Deutsche Wohnen AG acquired
around 2,600 additional residential units for a purchase price of
approximately EUR 154 million in the third quarter of 2011. Roughly 1,200
of these residential units are located in Berlin, around 200 in the
Rhine/Main region and a further 1,200 or so in Dusseldorf. For Deutsche
Wohnen, the acquisition of the properties in Dusseldorf represents a new
inroad into another attractive and dynamic metropolitan area, in addition
to Berlin and the Rhine/Main region.
Dusseldorf, the regional capital of North Rhine-Westphalia, with a
population of just under 600,000, is one of the most prosperous cities in
economic terms in Germany. It is the headquarters for many enterprises,
such as the DAX companies E.ON AG, Metro AG and Henkel KGaA, and is also a
well-known convention centre. Dusseldorf regularly attains good to very
good placings in both national and international city rankings. The
acquired portfolio will be managed by Deutsche Wohnen's existing Service
Point in Koblenz.
Michael Zahn, Chief Executive Officer of Deutsche Wohnen AG: 'Since
mid-2010, we have acquired 7,937 residential units - of which approximately
6,000 are located in Berlin - with total residential floor space of 462,000
sqm and a net initial yield of 7.0% for a gross purchase price of
approximately EUR 410 million. In parallel, we sold 434 units in the
context of adjusting our portfolio in the first six months of 2011. These
acquisitions and the ongoing optimisation of our portfolio are part of the
consistent implementation of our strategic objectives and thus enable us to
establish a basis for further organic growth.'
Thanks to its organisational structure, Deutsche Wohnen is able to realise
considerable economies of scale in the context of the management of its
entire acquisition portfolio, as this does not give rise to any significant
additional staff related expenses, general and administration expenses. It
is expected that the acquisitions will attribute around EUR 13 million to
the annual recurring FFO before tax that will come into effect to its full
extent as of 2012, given future potential rent increases of between 15% and
24%.
Deutsche Wohnen
Deutsche Wohnen is one of the largest listed residential property companies
in Germany with a business focus on managing and developing its residential
property portfolio. On 30 June 2011 the portfolio comprises 48,653 units in
total, of which 48,206 are residential units and 447 are commercial
properties. The Company has 81.84 million shares listed in the Deutsche
Börse's MDAX and is also included in the leading indices EPRA/NAREIT and
GPR 250.
End of Media Release
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Language: EnglishCompany: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt
Germany
Phone: +49 (0)30 89786-0
Fax: +49 (0)30 89786-507
E-mail: ir(at)deutsche-wohnen.com
Internet: http://www.deutsche-wohnen.com
ISIN: DE000A0HN5C6, DE0006283302
WKN: A0HN5C, 628330
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP-Media
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141025 03.10.2011
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Datum: 03.10.2011 - 15:30 Uhr
Sprache: Deutsch
News-ID 71840
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