Deutsche Annington Acquires 2,500 Flats from Corpus and E.ON
Bochum, January 17th, 2007 - Deutsche Annington Immobilien Group (Bochum) has acquired a total of 2,500 residential housing units from Corpus Immobiliengruppe (1,600) and E.ON (900). The portfolios acquired are predominantly located in Cologne, Frankfurt as well as in the Ruhr Area.
“With the acquisition of both portfolios, Deutsche Annington is continuing its long-term growth strategy on the German market,” explained Georg Kulenkampff, Chairman of the Management Board of Deutsche Annington Immobilien Group (DAIG). “DAIG has the necessary, nationwide platform to quickly and cost-effectively integrate acquired units into the existing portfolio.”
Existing rental contracts will be transferred to DAIG according to applicable law and remain valid. Existing agreements pertaining to tenant protection will also remain following the change in owners. The management of the units acquired from Corpus Immobiliengruppe will be transferred to DAIG in March 2007. Nothing will change for tenants living in the units acquired from E.ON as DAIG has already managed these flats in the past.
About Deutsche Annington:
The Deutsche Annington Immobilien Group (DAIG, Bochum) is one of the leading German, residential property companies with 230,000 leased and managed objects, nationwide. Their main areas of business are the letting of residential property, active asset management, the acquisition of new residential portfolios in order to sustainably increase the company’s value as well a the sale of flats to tenants, owner-occupiers or capital investors (including management). DAIG is a company oriented on the long-term and a responsible and strong lessor with a nationwide selection of residential property.
Contact:
Deutsche Annington Immobilien Group
Katja Klemm
Telephone +49 (0)234 314 – 1901
Mobile +49 (0)174 9224995
katja.klemm@deutsche-annington.com
A&B FD
Dirk T. Schmitt
Telephone +49 (0)69 920 37 –142
Mobile +49 (0)170 302 8833
d.schmitt@abfd.de
