DGAP-News Deutsche Wohnen SE: Deutsche Wohnen sells around 11,000 residential and commercial units to the State of Berlin
DGAP-News: Deutsche Wohnen SE / Key word(s): Real Estate
Deutsche Wohnen sells around 11,000 residential and commercial units to the State of Berlin
- HOWOGE, degewo and Berlinovo acquire almost 10,700 residential units and more than 200 commercial units from Deutsche Wohnen for about EUR 1.65 billion
- Sale continues constructive cooperation with the State of Berlin, whose state-owned housing companies have already acquired portfolios from Deutsche Wohnen on several occasions
- "Future and Social Housing Pact" ("Zukunfts- und Sozialpakt Wohnen") is part of Deutsche Wohnen's long-standing commitment to a social and sustainable housing industry
Berlin, September 17, 2021. Deutsche Wohnen and the State of Berlin have reached an agreement on the sale of selected properties from the company's portfolio. The agreement, which Deutsche Wohnen has concluded with the three state companies HOWOGE Wohnungsbaugesellschaft mbH, degewo AG and Berlinovo Immobilien Gesellschaft mbH, comprises the sale of nearly 10,700 residential units and more than 200 commercial units in Berlin.
Michael Zahn, CEO of Deutsche Wohnen: "With the sale, we are reaffirming our role as a trustworthy partner for the State of Berlin. The current transaction continues the constructive cooperation, following the sale of several portfolios to state-owned housing companies in the past."
Sale is the result of fair and constructive negotiations
The sale of the apartments was announced with the announcement of a business combination in partnership with Vonovia on May 24, 2021, and is part of the "Future and Social Housing Pact" ("Zukunfts- und Sozialpakt Wohnen") for Berlin presented by the companies and the Senate. In this context, a total of around 20,000 apartments have been offered for sale to the state of Berlin by Deutsche Wohnen and Vonovia. An agreement was reached for approximately 14,750 residential and 450 commercial units.