Deutsche Wohnen sells 2,175 units in Berlin

Berlin, 13 December 2019. Deutsche Wohnen has signed an agreement with the municipal housing company degewo to sell a portfolio consisting of 2,175 residential and commercial units in Berlin.

79% of this portfolio is subject to subsidised housing built in the years 1975 to 1993. The average selling price per sqm is at EUR 2,276 with a rental area of 157,236 sqm. The average rent generated in the disposal portfolio is EUR 6.68 per sqm.

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.

Completion of this transaction is subject to customary conditions, in particular antitrust clearance and is expected by the end of 2020.

 

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 September 2019, the portfolio comprised 169,524 units in total, of which 166,717 were residential and 2,807 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.