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Deutsche Wohnen SE — M&A Activity 2007
Jun 11, 2007
113_rns_2007-06-11_6ad30cb0-e5f3-4c4b-8b6f-8a839e52322e.html
M&A Activity
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Corporate | 11 June 2007 08:15
Deutsche Wohnen: Further portfolio acquisitions within the Rhine-Main-area and in Mannheim
Deutsche Wohnen AG / Miscellaneous
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
Deutsche Wohnen expanded the residential property portfolio by the
acquisition of 154 residential units with an average size of 60 sqm and 2
commercial units. Further on 239 residential units within a dormitory were
acquired. The properties are located in southern parts of the Federal State
of Hesse, in the Taunus and in Mannheim.
The average monthly rent comes to EUR 7.79 per sqm, the vacancy rate is
approximately 2 percent. The average monthly rent of the units within the
dormitory amounts to EUR 6.80 per sqm. The residential properties were
build in the sixties and the seventies. The state of repair of the
properties is good up to very good.
Total acquisition price amounts to approximately EUR 18.4 million. Internal
rate of return is calculated with approximately 11 percent (on basis of 25
percent equity). Due to this also these portfolio acquisitions encourage
Groups strategy of increases in profitability and values by gradual
regroupment within the property stock.
The purchased property portfolios dispose of potentials in rental
development and residential privatization, which will be enhanced by
Deutsche Wohnen next years. Property management within the dormitory will
be made on base of a lease contract with the student union of Mannheim.
Together with these portfolio acquisitions in 2007 Deutsche Wohnen acquired
approximately 1,340 residential units. Since middle of 2006
(deconsolidation from Deutsche Bank Group) the own residential property
stock was enlarged by approximately 10 percent. Further portfolio
acquisitions are intended for 2007.
The property portfolio of Deutsche Wohnen Group consists of approximately
21,000 own residential units with a total living space of approximately 1.3
million sqm (as of March 31, 2007). Core activities of Deutsche Wohnen are
property management and residential privatization to tenants and other
investors.
Hubert Bonn
Head of Investor & Public Relations
Phone: +49 (0)61 31 - 63 97 - 116
email: [email protected]
DGAP 11.06.2007
Language: English
Issuer: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt am Main Deutschland
Phone: +49 (0)6131-6397-116
Fax: +49 (0)6131-6397-199
E-mail: [email protected]
www: www.deutsche-wohnen.de
ISIN: DE000A0HN5C6, DE0006283302
WKN: A0HN5C, 628330
Indices: SDAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin-Bremen, Hamburg, Düsseldorf, München, Stuttgart
End of News DGAP News-Service