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PRESS RELEASE: Deutsche Annington increases portfolio by more than 41,000 residential units

Deutsche Annington Immobilien SE / Key word(s): Final Results/Real Estate

28.02.2014 / 07:27



Deutsche Annington increases portfolio by more than 41,000 residential units

Deutsche Annington announces acquisition of around 11,500 residential units managed by DeWAG, integration of around 30,000 residential units owned by Vitus group and capital increases out of authorized capital

Bochum, 28 February 2014 - Deutsche Annington Immobilien SE ("Deutsche Annington") today resolved on the acquisition of around 11,500 residential units managed by DeWAG, on the integration of a combined portfolio owned by Vitus group of around 30,000 residential units and on capital increases out of authorized capital.

Both transactions meet the acquisition criteria communicated by Deutsche Annington and are FFO and NAV accretive.

In this context, Deutsche Annington has reached an agreement in principle with certain shareholders of the Vitus group ("Vitus") with respect to the integration of certain Vitus entities comprising around 30,000 residential units into the Deutsche Annington group for a consideration of EUR 1.4 bn (including the assumption of certain liabilities and the repayment of third party debt). The agreement in principle is subject to certain closing conditions. The agreement in principle is also subject to the approval of cartel offices and certain shareholders of Vitus. Completion of the transaction is planned for the fourth quarter of 2014.

In addition, Deutsche Annington entered into a purchase agreement with respect to the acquisition of a portfolio of around 11,500 residential units managed by DeWAG. The purchase price for this portfolio amounts to about EUR 970 million (including the assumption of liabilities). The acquisition is subject to certain conditions to closing. Completion of the acquisition is planned for the second quarter of 2014.

The combined portfolio of about 41,500 residential units comprises floor area of more than 2.6 million sqm. Furthermore, the transactions increase Deutsche Annington's presence in northern Germany with over 9,500 residential units in Bremen and about 9,250 residential units in Kiel. The vacancy rate of the combined portfolio is below 4 %.

Deutsche Annington will finance the transactions with the assumption of existing liabilities and a combination of equity and debt instruments.

Additional information:

Stock exchange: Regulated Market (Prime Standard), Frankfurt Stock Exchange



Common Code : 094567408

Registered office of Deutsche Annington: Vogelsanger Weg 80, 40472 Dusseldorf, Germany

Business address of Deutsche Annington: Philippstrasse 3, 44803 Bochum, Germany


Deutsche Annington Immobilien SE

Thomas Eisenlohr

Head of Investor Relations

Telephone: +49(0)234-314-2384

Deutsche Annington Immobilien SE

Klaus Markus

Head of Corporate Communications

Telephone +49(0)234 314 - 1149

In addition, Deutsche Annington refers to the ad hoc announcement published simultaneously.

This publication may not be published, distributed or transmitted, directly or indirectly, in the United States (including its territories and possessions), Canada, Australia or Japan or any other jurisdiction where such an announcement would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This publication does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of Deutsche Annington Immobilien SE in the United States, Germany or any other jurisdiction. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. The securities of Deutsche Annington Immobilien SE may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities of Deutsche Annington Immobilien SE have not been, and will not be, registered under the Securities Act.

In the United Kingdom, this document is only being distributed to and is only directed at persons who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as "Relevant Persons"). This document is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

In member states of the European Economic Area ("EEA") which have implemented the Prospectus Directive (each, a "Relevant Member State"), this announcement and any offer if made subsequently is directed exclusively at persons who are "qualified investors" within the meaning of the Prospectus Directive ("Qualified Investors"). For these purposes, the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in a Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression "2010 PD Amending Directive" means Directive 2010/73/EU.

No action has been taken that would permit an offering of the securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

This information contains forward-looking statements that are based upon current views and assumptions of the Deutsche Annington Immobilien SE management, which were made to its best knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors which could cause the earnings position, profitability, performance or the results of Deutsche Annington Immobilien SE or the success of the housing industry to differ materially from the earnings position, profitability, performance or the results expressly or implicitly assumed or described in these forward-looking statements. In consideration of these risks, uncertainties and other factors, persons receiving these documents are advised not to unreasonably rely on these forward-looking statements. Deutsche Annington Immobilien SE does not assume any obligation to update such forward-looking statements and to adjust them to any future results and developments.

End of Corporate News

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