DGAP-Adhoc: Deutsche Wohnen acquires approximately 7,800 residential units in Greater Berlin and resolves on capital increase against contributions in kind

Deutsche Wohnen AG / Key word(s): Contract

26.04.2013 16:22

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Frankfurt (Main) / Berlin, 26 April 2013. Today, Deutsche Wohnen AG
announced that it entered into a purchase agreement for the acquisition of
a residential real estate portfolio comprising approximately 6,900
residential units that is held by various companies.

The purchase price for the acquisition of the residential real estate
portfolio consists of a cash component amounting to EUR 260 million, as
well as a share component of 8,150,000 new no-par value ordinary bearer
shares of Deutsche Wohnen AG.

Today, in order to fulfill the required/agreed share component, the
Management Board of Deutsche Wohnen AG, with approval from the Supervisory
Board, resolved on a capital increase in the nominal amount of
approximately 5 % of the current share capital against contributions in
kind and under exclusion of shareholders' subscription rights. The
company's share capital shall be increased by EUR 8,150,000, from EUR
160,757,143 to EUR 168,907,143, through the partial exercise of the
authorised capital 2012/II and against a contribution in kind of shares in
the real estate companies. To this end, 8,150,000 new no-par value ordinary
bearer shares shall be issued to the sellers, i.e. companies which are to
be attributed to Blackstone Group L.P. The new shares carry full dividend
rights as of 1 January 2013.

The new shares shall be admitted to trading on the regulated market
(regulierter Markt) within three months following the conclusion of the
transaction, and are expected to be included in the existing quotation for
the company's shares in the sub-segment of the regulated market with
additional post-admission obligations (Prime Standard) on the Frankfurt
Stock Exchange.

Today, Deutsche Wohnen AG further announced that it has also acquired an
additional residential real estate portfolio, comprising roughly 900
residential units in Berlin, for a gross purchase price of approximately
EUR 51 million in cash.

In total, the approximately 7,800 residential units, of which roughly 7,400
are located directly in the city of Berlin, are being purchased at an
in-place rent multiple of around 14x, meaning for approximately EUR 840 per
sqm. In total, the current gross rental income amounts to approximately EUR
29.7 million per year. Both portfolios are financed with approximately 55%
debt and are expected to contribute a recurring FFO yield of approximately
8% pre-tax.

With this acquisition, Deutsche Wohnen will increase its existing
residential real estate portfolio from approximately 82,500 residential
units to 90,300 residential units, of which 54% are located in Greater
Berlin. For Deutsche Wohnen, this acquisition represents yet another
attractive opportunity in the consistent continuation of its value-adding
growth strategy, which capitalises on economies of scale and improves the
FFO profile.

Assuming general/standard purchase agreement conditions, e.g. antitrust
clearance, are met, the acquisition of the real-estate portfolios,
including the completion of the capital increase, will be concluded in the
coming months.

Contact:
+49 (0)30 / 897 86 - 551

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Language: English
Company: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt
Germany
Phone: +49 (0)30 89786-0
Fax: +49 (0)30 89786-507
E-mail: ir@deutsche-wohnen.com
Internet: http://www.deutsche-wohnen.com
ISIN: DE000A0HN5C6, DE0006283302
WKN: A0HN5C, 628330
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service

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