Deutsche Wohnen SE

  • WKN: A0HN5C
  • ISIN: DE000A0HN5C6
  • Land: Deutschland

Nachricht vom 19.08.2019 | 17:30

Deutsche Wohnen SE: Deutsche Wohnen sells more than 6,000 residential units

DGAP-News: Deutsche Wohnen SE / Key word(s): Disposal

19.08.2019 / 17:30
The issuer is solely responsible for the content of this announcement.


Deutsche Wohnen sells more than 6,000 residential units
 

Berlin, 19 August 2019. Deutsche Wohnen has signed a contract with ZBI Group Erlangen regarding the sale of a portfolio of approximately 6,350 units. The properties are located primarily in Kiel, Lübeck, Erfurt and Chemnitz and so are outside of Germany's metropolitan regions.

With this sale, Deutsche Wohnen is reinforcing its strategy of making sustainable improvements to the quality of its portfolio by streamlining non-strategic holdings and by making targeted acquisitions.

Because the fundamentals of the metropolitan regions in Germany remain positive, Deutsche Wohnen is confident that these regions, and particularly Berlin, will continue to gain in both value and appeal.

The purchase price of approximately EUR 615 million represents a multiplier of roughly 22x the current rental income and is around a third above Deutsche Wohnen's book values.

The anticipated net cashflow of approximately EUR 500 million will be used mainly to finance the acquisition of just under 3,000 units in metropolitan regions in western Germany.

After acquiring BGP Group earlier this year, this is the second significant transaction of ZBI in 2019 leading to 65.000 units under management.

The completion of this acquisition is subject to antitrust approval and is expected to take place by the end of 2019.


 

Deutsche Wohnen

Deutsche Wohnen is one of the leading publicly listed property companies in Germany and Europe with a business focus on managing and developing its portfolio, which consists mainly of residential properties. As at 30 June 2019, the portfolio comprised 168,217 units in total, of which 165,457 were residential and 2,760 commercial. The company 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 note

This publication is neither an offer to sell nor a solicitation to buy securities.

To the extent that this document contains forward-looking statements, these are not facts and are recognisable by such words as 'will', 'expect', 'believe', 'estimate', 'intend', 'endeavour', 'assume' and similar expressions. These statements express the intentions, opinions or current expectations and assumptions of Deutsche Wohnen and the individuals acting in concert with it. The forward-looking statements are based on current plans, estimates and forecasts that Deutsche Wohnen and the individuals acting in concert with it have made to the best of their knowledge, but do not make any claims as to their future accuracy. Forward-looking statements are subject to risks and uncertainties that are generally difficult to predict and are usually not within the control of Deutsche Wohnen or the individuals acting in concert with it. It should be remembered that the actual results or consequences may differ considerably from those mentioned or contained in the forward-looking statements.




Contact:
Phone +49 (0)30 897 86-5413
Fax +49 (0)30 897 86-5419
ir@deutsche-wohnen.com


19.08.2019 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



show this

GBC-Fokusbox

Media and Games Invest wächst dynamisch und profitabel

Innerhalb des Konzerns Media and Games Invest sind der wachstumsstarke Game-Publisher gamigo AG sowie Unternehmen aus dem dynamischen Bereich „Digital Media“ gebündelt. Der Wachstumskurs der Gesellschaft soll sowohl auf Basis eines anhaltenden anorganischen Wachstums sowie durch den Ausbau des bestehenden Geschäftes fortgesetzt werden. Im Rahmen unserer Initial-Coverage-Studie haben wir ein Kursziel von 1,90 € je Aktie ermittelt und vergeben das Rating KAUFEN..

News im Fokus

Vonovia SE: Wohnungsunternehmen Vonovia erhält erstmalig A- Rating (News mit Zusatzmaterial)

13. Dezember 2019, 10:50

Aktuelle Research-Studie

MBH Corporation Plc

Original-Research: MBH Corporation plc (von GBC AG): Management Interview

13. Dezember 2019