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EQS-Adhoc: Vonovia SE and Deutsche Wohnen SE sell 5 assets with 1,350 residential units to CBRE Investment Management

eqs_en 
0 0 04.05.23
EQS-Adhoc: Vonovia SE and Deutsche Wohnen SE sell 5 assets with 1,350 residential units to CBRE Investment Management: http://s3-eu-west-1.amazonaws.com/sharewise-dev/attachment/file/23633/Vonovia_Logo.svg.png
 

EQS-Ad-hoc: Vonovia SE / Key word(s): Disposal
Vonovia SE and Deutsche Wohnen SE sell 5 assets with 1,350 residential units to CBRE Investment Management

04-May-2023 / 05:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Vonovia and Deutsche Wohnen sell 5 assets with 1,350 residential units to CBRE Investment Management


Bochum, May 4, 2023 – Vonovia and Deutsche Wohnen have agreed with funds managed by CBRE Investment Management on the sale of five assets with 1,350 residential units, including two assets with 380 apartments belonging to Deutsche Wohnen. Two of the assets are in the final construction phase with completion expected in Q2 and Q3 2023. The other three assets are recently completed new constructions that are operated by Vonovia within the rental segment.

The book value of the sold assets as of Dec. 31, 2022, plus the estimated costs to completion for the not-yet finished assets amounts to ca. EUR 600m. The agreed purchase price totals around EUR 560m. Due to different closing dates and partly staggered purchase price payments, the purchase prices will flow between May and December 2023. Vonovia expects a cash inflow after taxes and transaction costs of approximately EUR 535m, which corresponds to a cash conversion of approximately 89%. The closing of the transaction is subject to customary maturity conditions.

Contact:

Vonovia SE
Rene Hoffmann
Head of Investor Relations
Telephone: +49(0)234 314 - 1629
Rene.Hoffmann@vonovia.de


End of Inside Information

04-May-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
Language: English
Company: Vonovia SE
Universitätsstraße 133
44803 Bochum
Germany
Phone: +49 234 314 1609
Fax: +49 234 314 2995
E-mail: investorrelations@vonovia.de
Internet: www.vonovia.de
ISIN: DE000A1ML7J1
WKN: A1ML7J
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1623937

 
End of Announcement EQS News Service

1623937  04-May-2023 CET/CEST

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Vonovia SE Stock

€27.44
1.300%
There is an upward development for Vonovia SE compared to yesterday, with an increase of €0.35 (1.300%).
With 8 Buy predictions and not the single Sell prediction the community is currently very high on Vonovia SE.
With a target price of 30 € there is a slightly positive potential of 9.33% for Vonovia SE compared to the current price of 27.44 €.
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EQS Group is a leading international provider of regulatory technology in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.




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