DGAP-News Vonovia SE: Vonovia sells Berlin housing stock from the Future and Social Pact for Housing to municipal housing companies
DGAP-News: Vonovia SE / Key word(s): Miscellaneous
Vonovia sells Berlin housing stock from the Future and Social Pact for Housing to municipal housing companies
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- Agreement on the sale of a total package of 14,750 Vonovia and Deutsche Wohnen apartments from the Future and Social Pact for Housing to berlinovo, degewo and HOWOGE
- 4,250 of these residential and commercial units at a price of EUR 811 million are from Vonovia's portfolio
- Commitments to limit regular rent increases until 2026 and to build 13,000 new flats in Berlin remain in place
Bochum, 17 September 2021 - Vonovia SE ("Vonovia") has successfully concluded talks on the sale of housing stock in Berlin to the municipal housing companies berlinovo, degewo and HOWOGE. In total, Vonovia SE and Deutsche Wohnen SE are selling 14,750 apartments from the Future and Social Pact for Housing in order to contribute to the expansion of municipal housing stock in Berlin and to alleviate strain on the rental market in the German capital. The sale agreement also includes around 450 commercial units. Around 4,250 of these residential and commercial units come from Vonovia's portfolio at a price of approximately EUR 811 million. This package includes around 800 apartments that will be notarised at the end of September. The apartments shall be transferred to the municipal housing companies in January and July of next year.
Rolf Buch, CEO of Vonovia: "With this sale of housing stock in Berlin to the municipal housing companies, we are fulfilling a central promise to the Berlin Senate from the Future and Social Pact for Housing. We are selling the apartments at a fair price. As a reliable political and social partner, we contribute sustainably to solutions for the Berlin housing market."
The flats in question form a portfolio that takes into account the wishes and requirements of the state and essentially reflects a cross-section of Vonovia's Berlin housing stock in terms of distribution as well as quality and value. The three municipal housing companies have independently selected the properties that best suit their needs from this portfolio.