06.03.2017
Deutsche Wohnen AG DE000A0HN5C6
DGAP-News: Deutsche Wohnen AG: Deutsche Wohnen acquires real estate portfolio with almost 4,200 units in Berlin
DGAP-News: Deutsche Wohnen AG / Key word(s): Acquisition
Deutsche Wohnen AG: Deutsche Wohnen acquires real estate portfolio with
almost 4,200 units in Berlin
06.03.2017 / 08:30
The issuer is solely responsible for the content of this announcement.
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Deutsche Wohnen acquires real estate portfolio with almost 4,200 units in
Berlin
Frankfurt/Main and Berlin, 6 March 2017. Deutsche Wohnen entered into an
agreement for the acquisition of a real estate portfolio comprising almost
4,200 units located in Berlin, thereof approximately 3,900 residential and
270 commercial units.
The real estate portfolio in central Berlin locations mainly consists of
high quality "pre-war" buildings, constructed at the beginning of the 20th
century, with only limited investment needs. The purchase price amounts to
around EUR 655 million or EUR 2,390 per square meter, implying a multiple
of 20x based on market rents and a multiple of 30x based on in-place rents.
The acquisition will be financed through the proceeds of the recent
successful placement of new shares and the convertible bonds of Deutsche
Wohnen.
The residential portfolio has an average montly in-place rent of EUR 6.92
per square meter at the acquisition date and the vacancy rate of almost 7 %
provides further optimisation potential. Initially, the portfolio is
expected to contribute around EUR 22 million of net cold rent per year,
leading to an EBITDA of c. EUR 15 million.
The acquisition is expected to close in the second quarter of 2017.
Deutsche Wohnen
Deutsche Wohnen is one of the largest publicly listed residential property
companies in Germany and Europe with a business focus on managing and
developing its mainly residential property portfolio. As at 30 September
2016, the portfolio comprised a total of 160,474 units, of which 158,274
were residential and 2,200 commercial. Deutsche Wohnen is listed in the
Deutsche Börse's MDAX and is also included in the leading indices EPRA/
NAREIT, STOXX(R) Europe 600 and GPR 250.
Important Notice
This publication represents neither an offer for sale nor request for
purchase of securities.
Any statements regarding the future in this document do not represent any
facts and use terms such "will", "expected", "believe", "estimate",
"intend", "strive", and "assume" and other similar phrases. The statements
express the intention, views and current expectations and assumptions of
Deutsche Wohnen and parties acting in concert with Deutsche Wohnen. The
statements directed at the future are based on current planning, estimates
and forecasts, which Deutsche Wohnen and the parties acting in concert with
Deutsche Wohnen have made to the best of their knowledge but do not contain
any statement about their future validity. Future-based statements are
subject to risks and uncertainties, which are generally difficult to
predict and are generally not in Deutsche Wohnen's sphere of influence or
that of the parties acting in concert with Deutsche Wohnen. Please note
that the actual results or events may deviate substantially from those
provided in or removed from the future-based statements.
Contact:
Contact Investor Relations:
Phone +49 (0)30 897 86-5413
Fax +49 (0)30 897 86-5419
[email protected]
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06.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt am Main
Germany
Phone: +49 (0)30 89786-0
Fax: +49 (0)30 89786-5419
E-mail: [email protected]
Internet: http://www.deutsche-wohnen.com
ISIN: DE000A0HN5C6
WKN: A0HN5C
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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550493 06.03.2017
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