News
06/11/2007
Deutsche Wohnen: Further portfolio acquisitions within the Rhine-Main-area and in Mannheim
DGAP-News: 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: ir@deuwo.com
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: hubert.bonn@deuwo.com
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
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: ir@deuwo.com
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: hubert.bonn@deuwo.com
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