DGAP-News

Deutsche Wohnen acquires portfolios with around 15,200 residential units

DGAP-News: Deutsche Wohnen AG / Key word(s): Acquisition
Deutsche Wohnen acquires portfolios with around 15,200 residential units

27.11.2015 / 21:05
The issuer is solely responsible for the content of this announcement.

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Deutsche Wohnen acquires portfolios with around 15,200 residential units

- Consistent implementation of portfolio strategy with focus on
Core+/Core regions

- A total of around 5,600 apartments in Berlin and 3,800 apartments in
Kiel

- Purchase price for the around 15,200 residential units of around EUR
1.2 billion

- Financing of transaction through around 50% bank loans and 50% free
liquidity respectively

- Annual FFO contribution of around EUR 40 million expected


Frankfurt/Main and Berlin, 27 November 2015. Today, Deutsche Wohnen AG
entered into an agreement for the acquisition of a real estate portfolio
comprising approximately 13,600 residential units from PATRIZIA Immobilien
AG. In total, Deutsche Wohnen has acquired around 15,200 residential units
since midyear. Around 5,600 of such residential units are located in Berlin
and around 3,800 residential units are located in Kiel. The geographic
focus of the portfolios have a very high overlap and concentration with
Deutsche Wohnen's existing locations. With this transaction, Deutsche
Wohnen is consistently pursuing its value-adding portfolio strategy with a
focus on selected urban and metropolitan areas.

Michael Zahn, CEO of Deutsche Wohnen AG: "After months of intensive
preparations, we are expanding our portfolio in our Core+ region Berlin
with this transaction. At the same time, we are exceeding critical mass in
Kiel and are strengthening other locations. With this acquisition, we are
demonstrating once again that we are able to realise existing potentials
efficiently and thus generate value for our shareholders."

The large share of apartments in Berlin allows a quick and cost effective
integration. With an average rent below the rent index, the properties in
Berlin currently offer growth potential of up to 30 percent.

The transaction also strengthens Deutsche Wohnen's position in the core
region of Kiel. The previous portfolio in the appealing port and university
town is being greatly expanded and enables with roughly 5,000 units for a
highly efficient property management. The acquired residential units in
Kiel currently offer a rent potential of up to 20 percent.

The other units of the acquired portfolio will complement Deutsche Wohnen's
residential portfolio, in particular in the Rhine-Main and Rhineland
regions and Dresden.

Furthermore, the portfolios include around 3,300 apartments that Deutsche