PRESS RELEASE : Vonovia SE: Vonovia Acquires 1,000 Apartments in Kiel

 
 DGAP-News: Vonovia SE / Key word(s): Acquisition 
Vonovia SE: Vonovia Acquires 1,000 Apartments in Kiel (news with additional 
features) 
 
2020-12-02 / 18:01 
The issuer is solely responsible for the content of this announcement. 
 
*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 &euro 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. 
 
Additional features: 
 
File: Vonovia Kiel [1] 
 
2020-12-02 Dissemination of a Corporate News, transmitted by DGAP - a 
service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
The DGAP Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:    English 
Company:     Vonovia SE 
             Universitätsstraße 133 
             44803 Bochum 
             Germany 
Phone:       [phone] 
Fax:         [phone] 
E-mail:      [e-mail] 
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: 1152407 
 
End of News DGAP News Service 
 
1152407 2020-12-02 
 
 
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(END) Dow Jones Newswires

December 02, 2020 12:02 ET (17:02 GMT)