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Vonovia SE
Environmental & Social Information • May 4, 2023
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Environmental & Social Information
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News Details
Ad-hoc | 4 May 2023 05:07
Vonovia SE and Deutsche Wohnen SE sell 5 assets with 1,350 residential units to CBRE Investment Management
Vonovia SE / Key word(s): Disposal
Vonovia SE and Deutsche Wohnen SE sell 5 assets with 1,350 residential units to CBRE Investment Management
04-May-2023 / 05:07 CET/CEST
Disclosure 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 AG.
The issuer is solely responsible for the content of this announcement.
Vonovia and Deutsche Wohnen sell 5 assets with 1,350 residential units to CBRE Investment Management
Bochum, May 4, 2023 – Vonovia and Deutsche Wohnen have agreed with funds managed by CBRE Investment Management on the sale of five assets with 1,350 residential units, including two assets with 380 apartments belonging to Deutsche Wohnen. Two of the assets are in the final construction phase with completion expected in Q2 and Q3 2023. The other three assets are recently completed new constructions that are operated by Vonovia within the rental segment.
The book value of the sold assets as of Dec. 31, 2022, plus the estimated costs to completion for the not-yet finished assets amounts to ca. EUR 600m. The agreed purchase price totals around EUR 560m. Due to different closing dates and partly staggered purchase price payments, the purchase prices will flow between May and December 2023. Vonovia expects a cash inflow after taxes and transaction costs of approximately EUR 535m, which corresponds to a cash conversion of approximately 89%. The closing of the transaction is subject to customary maturity conditions.
Contact:
Vonovia SE
Rene Hoffmann
Head of Investor Relations
Telephone: +49(0)234 314 – 1629
End of Inside Information
04-May-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Vonovia SE |
| Universitätsstraße 133 | |
| 44803 Bochum | |
| Germany | |
| Phone: | +49 234 314 1609 |
| Fax: | +49 234 314 2995 |
| E-mail: | [email protected] |
| Internet: | www.vonovia.de |
| ISIN: | DE000A1ML7J1 |
| WKN: | A1ML7J |
| Indices: | DAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1623937 |
| End of Announcement | EQS News Service |