LEG Immobilien
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German property shares rebound as drastic rent cap plans withdrawn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
Khaled Kaissar/Kaissar Film
Domicil beefs up team as it prepares for stock market listing
The Munich-based Domicil Real Estate Group said recently it is planning a stock market IPO to boost funds for its further expansion. The company has given no specific date, other than saying it wanted to examine market feasibility... Read more
Domicil Real Estate GmbH
Domicil builds on mandates to plan own housing investment
The Munich-based Domicil Real Estate Group remains very positive about German residential housing, and is gearing itself up to take on further mandates, after jumping up a couple of divisions with some sizeable deals earlier on this year. 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
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
LEG
LEG closing in on further portfolio buys, improves FFO
Listed German housing company LEG Immobilien posted strongly-improved Q1 figures on the back of the country's buoyant residential market, and issued a further postive forecast for 2017 and 2018, bolstered by its own recent refinancing on... Read more
LEG Immobilien AG
LEG Immobilien first €500m bond four times oversubscribed
Listed German housing company LEG Immobilien AG placed its first corporate bond, with a nominal value of €500m, with institutional investors earlier this month. The unsecured fixed-rate bond is paying an annual coupon of 1.25%, and matures on the... Read more
LEG
Solid figures from LEG underpinned by real rent increases
Although like many of its listed peers, the share price of Düsseldorf-headquartered LEG Immobilien has been battered since mid-August (off more than 20%), the company itself has been performing well in all its key business areas over the first... Read more
Berlin Hyp AG
Cheap refinancing for Pfandbrief banks, but growing competition
German real estate lender Berlin Hyp has been tapping the markets heavily this year to refinance its lending, and in October issued its third €500m mortgage Pfandbrief since April – which, like its predecessors, was heavily (2.4 times) oversubscibed. Read more
DEUTSCHE WOHNEN
Deutsche Wohnen raises FFO forecast on strong rental growth
Another listed residential housing company to post strong first-half figures based on rising rents and appreciation in capital values is Deutsche Wohnen AG which, like LEG Immobilien (see elsewhere in this issue), has also raised its forecast for... Read more
LEG Immobilien AG / Andreas Teichmann
'Organic rent growth' the driver for LEG H1 performance
The Düsseldorf-based listed German housing landlord LEG Immobilien has increased its earnings outlook for 2015 and 2016 following a ‘continued strong operating performance’ in the second quarter. It highlighted organic rent growth in German... Read more
LEG Immobilien AG / Andreas Teichmann
LEG buys 700 units from Benson Elliot’s old Speymill stock
Benson Elliot, the UK-based private equity real estate fund manager, said it sold 700 units from its German residential portfolio to German listed investor LEG Immobilien, at a rental yield of 6.8%. Read more
Deutsche Wohnen
Consolidation in listed sector to continue, conwert still in play
Speaking at the annual Handelsblatt Immobilientagung in Hamburg last week, Andreas Segal, board member and finance director at listed Deutsche Wohnen AG, addressed the issue of consolidation among German listed property groups. In particular, he... Read more
Deutsche Annington
Newly MDAX-listed Annington raises fresh €450m
Listed German housing group Deutsche Annington said it successfully raised €451m in a private equity placement aimed at the acquisition of 5,000 apartments from CitCor Residential Group, a joint venture of Citigroup Property Investors and manager... Read more
GAGFAH
Shareholders happy as Fortress exits Gagfah for last €740m
It’s been all good news for residential housing group Gagfah shareholders in recent years, who are sitting on a six-bagger since the dark days of early 2009. Things were given a fillip last year with the arrival of CEO Thomas Zinnöcker from Berlin... Read more
LEG places €300m in first bond issue since last year’s IPO
Listed German residential property company LEG Immobilien has placed €300m in convertible bonds with institutional investors to diversify its financing sources and support its growth strategy. The bond issue is the company's first since it was... Read more
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Best year for capital-raising in Germany since 2006
The year 2013 will see the most capital raised for German real estate companies from share and bond sales in any year since 2006 – a near tripling of last year’s figure – as investors took advantage of the buoyant residential sector and the return... Read more
Goldman Sachs, Perry sell further LEG holdings for €290m
Goldman Sachs' Whitehall Funds and US hedge fund Perry Capital lightended up their holdings in Düsseldorf-based housing firm LEG Immobilien earlier this month in line with their lock-up arrangements when they raised €290m by selling a further 7... Read more
LEG Immobilien AG
LEG on target to buy further 10,000 residential units
The Düsseldorf-based listed housing company LEG Immobilien had its first official annual general meeting as a publicly-owned company earlier this month, six months after being floated on the stock market by previous owner Goldman Sachs. Read more
LEG
LEG implements new expansion plan with local acquisition
Düsseldorf-based LEG Immobilien, which was floated earlier this year on the stock exchange by previous owner Goldman Sachs, is wasting little time in implementing its new stated growth strategy, which should see it adding at least 10,000 further... Read more