Deutsche Annington purchases 4,500 flats in Berlin
Bochum, December 1, 2009 – Deutsche Annington Immobilien Gruppe (DAIG), Bochum, is continuing its success growth strategy. The company has acquired a majority stake in Prima GmbH in Berlin Lichtenberg with 4,458 flats, 447 parking spaces and nine commercial units. The seller is IMW Immobilien AG, Berlin.
“Deutsche Annington views itself as a long-term investor in residential properties. We plan to expand our portfolio through economically feasible acquisitions. We have the financial flexibility that enables us to make larger acquisitions at any time,” says Wijnand Donkers, Chairman of the Management Board of DAIG. “Deutsche Annington now owns a total of 13,500 flats in Berlin, one of the growing properties markets. Berlin is now our second-largest location following Dortmund.”
The buildings were built between 1960 and 1987 and completely modernised between 1995 and 2001. The flat complexes are nearly fully rented with a 98-percent occupancy rate. The 4,458 flats have a total living space of some 278,000 square meters. Lichtenberg is located five kilometres east of the centre of Berlin and has approximately 260,000 inhabitants. “We are buying an historically developed, well managed portfolio and have great respect for the previous efforts of Prima GmbH. We therefore have no plans to make significant changes at this time and will retain the flats in our portfolio in the long term,” Donkers said.
The long-term agreements that apply to nearly all of the holdings of Deutsche Annington provide a solid basis for tenant protection and security. The new tenants will profit from the services provided by DAIG including discounts and bonuses for products and services offered by UCI Kinowelt (cinema tickets), Vivothek (online pharmacy) and Karstadt Travel as well as the senior consulting service “Annington Wohnen Plus”, lower utility costs utilities through efficient energy and refuse disposal management and much more.
Contact:
Deutsche Annington Real Estate Group
Katja Weisker
Telephone +49(0)234 314 – 1901
Mobile +49(0)174 9224995
katja.weisker@deutsche-annington.com
