Deutsche Wohnen
Deutsche Wohnen
BayernLB issues record €700m bond for re-nationalisation of 6,000 units
Munich-based bank BayernLB issued the largest promissory note ever in the history of German real estate for the Berlin housing association Gewobag Wohnungsbau-AG, a €700m note (Schuldscheindarlehen) issued in partnership with LBBW Landesbank Baden-Wü Read more
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German property shares rebound as drastic rent cap plans withdrawn
After weeks in which hundreds of millions were wiped off the value of listed German real estate companies, trading on the last day of August saw powerful rebounds in the share prices of leading German companies with exposure to the residential... Read more
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TLG Immobilien buys stake in Aroundtown, mulling full merger
Listed Berlin commercial property investor TLG Immobilien AG bought a nearly 10% stake in fast-growing rival real estate company Aroundtown AG for just over €1bn, and is contemplating a full merger with the company, which would create one of... Read more
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Benson Elliot sells back Gera housing unit to State of Thuringia at sizeable profit
In a deal which will be watched with interest by other foreign investors in German housing associations, the UK private equity fund manager Benson Elliot, acting on behalf of its pan-European fund Benson Elliot Real Estate Partners IV (BEREP IV)... Read more
Vonovia SE
90% of German asset managers want to boost exposure to residential sector
A whopping 90% of German asset managers want to increase their exposure to the residential sector, according to an asset management study published this month by Ernst & Young and Germany’s largest residential landlord, Vonovia. Read more
REFIRE
Who could believe we’d be talking about expropriation in 2019?
We’re glad to see that listed housing company Deutsche Wohnen is still on the acquisition trail, having just this month bagged a further 2,840 German apartments from Swedish group Akelius for €685m. Read more
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Union Investment, ZBI, plan takeover of BGP portfolio from China fund
In what could be a first for a major German fund manager, giant Union Investment is getting close to concluding a deal to buy about 16,000 German apartments for a sum of up to €2bn from the Chinese sovereign fund CIC. Read more
REFIRE
Tenants to the left of me, trade wars to the right, here I am, stuck in the middle...
The news this week that Caterpillar, often viewed as a bellwether industrial group, reported a sharp slow down in sales in China will have been widely noted in Germany, many of whose leading exporters will shortly be perusing their own results for... Read more
DEUTSCHE WOHNEN
Boardroom struggle at TLG Immobilien as Ouram seeks changes
In our December issue of REFIRE, we speculated that Ouram Holding, controlled by Israeli investor Amir Dayan, was about to make a full takeover attempt for the German listed TLG Immobilien. Read more
Deutsche Wohnen
German housing companies face increasing resistance to higher charges
A number of Germany’s largest residential landlords have been feeling a renewed wave of resistance coming from tenants no longer willing to accept extra charges for energy, sanitation and other refurbishment costs imposed upon them by... Read more
Deutsche Wohnen
Listed real estate index set to double on specialty sectors
It seems like only recently when Germany was a laggard in the European listed real estate sector, and we here at REFIRE have no difficulty remembering the plaintive wailing of the EPRA leadership at the slow pace of growth of... Read more
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SPD pushes for ‘Mietenstopp’ to cap rental growth
Germany’s SPD party is pushing for a 12-step ‘Mietenstopp’ to cap residential rent hikes in the country, in a move it is hoping will curb excessive rental increases following the abject failure of the Mietpreisbremse, or rental brake law. Read more
DEUTSCHE WOHNEN
Profits up at Deutsche Wohnen, new investment of €680m in nursing homes
The shortage of affordable housing in Germany, particularly in the bigger cities, has helped to push up profits at Deutsche Wohnen, the country’s second-biggest listed residential property company. Read more
Deutsche Wohnen
Gateway takes over larger development group, brings in new management
The relatively unknown Gateway Real Estate has taken a significant leap into the upper leagues with its takeover of Düsseldorf-based project developer Development Partner, for an enterprise value of about €500m... Read more
Joke Emmerechts/EPRA
Extending a hearty welcome to our new Australian investors
It's now more than ten years since the German real estate industry was in a collective tizzy about the new forthcoming REITS legislation. Read more
DEUTSCHE WOHNEN
German house prices climb 5.5% on average in 2017 - bigger gains in ‘Big 7’
German house prices are on the up again, rising by 5.5% on average last year, according to Postbank’s Housing Atlas 2018, published this month. Read more
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Deutsche Wohnen to issue €800m of convertible bonds; other listed firms also eyeing issues
German listed residential property owner Deutsche Wohnen has announced plans to issue €800m of convertible bonds. Read more
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Mietpreisbremse ‘unlikely to survive new German government in its present form’
Germany’s much-maligned Mietpreisbremse, or rental price brake law, is unlikely to survive Germany’s still to be determined new coalition government in its present form, real estate experts have told REFIRE, in light of the tumultuous federal... Read more
Deutsche Wohnen AG
Deutsche Wohnen books €672m profit in 1H
Germany’s second largest listed landlord Deutsche Wohnen has reported consolidated group profit of €672m in the first half of 2017, up from €647.2m in the same period last year, it announced in August. Read more
Deutsche Wohnen
BUWOG hybrid approach enjoying high market acceptance
Listed German-Austrian full-service housing provider BUWOG will next week conclude a cash capital increase by offering a total of up to 12.5 million Buwog shares with a subscription ratio of 1:8. Read more