Deutsche Annington acquires SÃœDEWO Group with around 20,000 homes
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Deutsche Annington is taking on all obligations, without restrictions.
Deutsche Annington is taking on all obligations, without restrictions, from the existing Social Charter, which secures the interests of tenants and the continuation of the respective company locations.
In addition, Deutsche Annington meets the demanding and varied criteria that were set by the sellers. These include, for example, investment in the portfolio, demonstrable expertise in tenant support and a coherent, long-term strategy focused on tenant interests.
The SÜDEWO portfolio will strengthen Deutsche Annington’s strategic presence in Baden-Württemberg, where the company is already represented with around 15,000 homes.
The newly acquired portfolio has a very low vacancy rate of just 2.4% and is spread over several locations, alongside the cities of Stuttgart, Ulm and Mannheim, in a region with a remarkable dynamic economy.
As announced, the company plans to conduct a capital increase with subscription rights from authorised capital with expected gross issue proceeds of EUR 2.25 bn to finance the acquisition of the SÃœDEWO Group. ■