DGAP-News: Vonovia SE: Vonovia Acquires 1,000 Apartments in Kiel

Vonovia Acquires 1,000 Apartments in Kiel

- Increasing activities in the state capital

- High-quality apartments are a perfect fit to Vonovia's existing neighborhoods

- Nothing changes for tenants

- All 12 employees will be taken on

Bochum, Germany, December 2, 2020. Vonovia is acquiring around 1,000 apartments in Kiel from the Danish company H&L Ejendomme A/S. The two parties agreed on a purchase contract for the acquisition today. They have agreed not to disclose the purchase price. The antitrust authorities already gave their approval on 27 November 2020, the transaction is expected to close on December 30, 2020.

"We are excited to expand our footprint in Kiel with this high-quality, sustainable portfolio. We have very close ties to the city and its people, and we have been managing our portfolio in line with social criteria for decades. As part of urban society, our goal is to provide our tenants with attractive homes at fair prices. We develop our neighborhoods in a socially responsible way - for example, by making senior-friendly renovations," says Dirk Brunnert, Managing Director of the North Region for Vonovia. The newly acquired buildings are in central locations in the federal state capital. The previous owner has been putting this portfolio together since 2007. "The two portfolios go very well together, and we will be able to smoothly integrate the new apartments into our neighborhoods. All lease agreements will of course retain their validity - we are fully aware of our responsibility to our tenants." Hence, this transaction will not change anything for the current tenants.

The employees of the former owner, H&L Immobilien GmbH, Kiel, a subsidiary of the Danish company H&L Ejendomme A/S, will be taken on by Vonovia. "We need their expertise and their energy; ultimately, we all still have a lot we want to accomplish in Kiel," says Dirk Brunnert. Vonovia employs around 300 employees in the city and first opened its new neighborhood office in the future-oriented neighborhood of Kiel-Gaarden in December 2019. "We offer our tenants personal office hours as well as 24/7 customer service."

The largest Vonovia locations in northern Germany are in Kiel, Bremen and Hamburg, followed by Lübeck and Hannover. Vonovia has called the Kiel region home since 1918 and manages around 23,000 apartments there. 2,000 of those are publicly funded. Portfolio vacancy in Kiel is at around 2.2%; rent comes to € 6.53/sqm.

Caption: Vonovia is expanding its portfolio by 1,000 high-quality apartments in central areas of Kiel. Image free for use.

About Vonovia

Vonovia offers a home to around one million people in Germany. The residential real estate company plays a central role in society, which is why Vonovia's activities are never focused exclusively on financial aspects, but also take social factors into account. Vonovia is helping to provide answers to the current challenges on the housing market. The company is committed to more climate protection, more senior-friendly apartments and a positive community spirit in its neighborhoods. In cooperation with social institutions and the municipal districts, Vonovia supports social and cultural projects that enrich community life. Vonovia is also helping to address a social issue that is particularly important at the moment: the construction of new apartments.

Our activities focus on our customers and their needs. On site, caretakers and our own craftsmen take care of our tenants' concerns. Being close to our customers ensures fast and reliable service. In addition, Vonovia invests generously in the maintenance of the buildings and develops housing-related services for a better quality of living. For answers to any questions in connection with lease agreements and ancillary expense bills, the central customer service center can be contacted via a regional service hotline as well as by email, fax, app or by post.

Vonovia has a workforce of over 10,000 employees and its CEO is Rolf Buch.

Additional Information:
Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange
ISIN: DE000A1ML7J1
WKN: A1ML7J
Common code: 094567408
Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879
Business address of Vonovia SE: Universitätsstrasse 133, 44803 Bochum, Germany

This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.