Vonovia SE : First small step into the Dutch market – Vonovia continues to deliver on its European expansion strategy
>Vonovia buys a 2.6% stake in Vesteda - On Friday (26 June), Vonovia (VNA) announced that it will take a first step into the Dutch residential market by acquiring a 2.6% stake in Vesteda Residential Fund (Vesteda). The planned closing date for the acquisition of the stake is 30 June 2020. The purchase price for VNA´s stake in Vesteda has been kept confidential. We estimate that the price might be around NAV, which we calculate to be at c.€ 6bn, equalling c.€ 150m...Vonovia is a residential real estate company based in Germany. Co. maintains 357,117 residential units and a portfolio worth approximately Euro24.1 billion in cities and regions throughout Germany. Co. manages residential units, garages and parking spaces as well as commercial units. Co. focuses on customer orientation and tenant satisfaction, offering tenants affordable, attractive and livable homes, as well as offering additional real estate-related services. Co.'s residential units are located in contiguous settlements at approximately 770 locations in Germany.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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