Disposal Of 27 Nursing Homes And 7 Development Projects

EQS-News: Deutsche Wohnen SE / Key word(s): Disposal
Disposal of 27 Nursing Homes and 7 Development Projects
02.10.2024 / 17:45 CET/CEST
The issuer is solely responsible for the content of this announcement.

Disposal of 27 Nursing Homes and 7 Development Projects

Berlin, October 2, 2024. Deutsche Wohnen SE has signed an agreement to sell Katharinenhof Group, consisting of 27 nursing homes a.o. in Berlin, Hamburg, Brandenburg, and Saxony, plus the operating platform for an aggregate amount of more than EUR 300 million.

The buyer of the nursing care properties is a fund issued by Civitas Investment Management (“CIM”) in Luxembourg, which focuses exclusively on investments in social infrastructure in Germany and Europe. CIM was advised on the transaction by TSC Real Estate Real Estate from Berlin. Alloheim Group, Germany's largest private in- and outpatient nursing care provider, will take over the operating platform to ensure high-quality care in the future as well.

Closing of the transaction is expected by the end of 2024.

In a separate transaction, Deutsche Wohnen agreed to sell 7 Development Projects to a fund managed by HIH Invest Real Estate. The first closing of this transaction is expected by the end of 2024.

About Deutsche Wohnen

Deutsche Wohnen is one of the leading publicly listed property companies in Europe and is part of the Vonovia Group. The business focus of the company is on managing its own portfolio of residential properties in dynamic metropolitan regions and conurbations in Germany. Deutsche Wohnen sees itself as having both a social responsibility and a duty to maintain and newly develop good-quality and affordable housing in vibrant residential neighbourhoods. As of 30 June 2024, the portfolio comprised a total of around 140,000 residential units.

Important note

This publication is neither an offer to sell nor a solicitation to buy securities.

To the extent that this document contains forward-looking statements, these are not facts and are recognisable by such words as 'will', 'expect', 'believe', 'estimate', 'intend', 'endeavour', 'assume' and similar expressions. These statements express the intentions, opinions or current expectations and assumptions of Deutsche Wohnen and the individuals acting in concert with it. The forward-looking statements are based on current plans, estimates and forecasts that Deutsche Wohnen and the individuals acting in concert with it have made to the best of their knowledge, but do not make any claims as to their future accuracy. Forward-looking statements are subject to risks and uncertainties that are generally difficult to predict and are usually not within the control of Deutsche Wohnen or the individuals acting in concert with it. It should be remembered that the actual results or consequences may differ considerably from those mentioned or contained in the forward-looking statements.

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02.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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