trending Market Intelligence /marketintelligence/en/news-insights/trending/45GKt6uRNS4xOEs9JcIYiA2 content esgSubNav
In This List

Deutsche Wohnen pays €685M for German residential portfolio

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Deutsche Wohnen pays €685M for German residential portfolio

Property giant Deutsche Wohnen SE agreed to buy a German residential portfolio for €685 million from Sweden-based Akelius Residential Property AB (publ), REFI Europe reported.

The portfolio — across Frankfurt, Cologne and Düsseldorf — totals 2,850 residential units and 100 commercial units.

The portfolio is expected to generate roughly €22 million in annual net cold rent. The purchase price reflects a multiple of 29.1 on a fully rented basis, according to the March 18 report.

The transaction is scheduled to close in June, Akelius said in a separate release, adding that it will use the proceeds from the sale to reduce debt.

The sale was reported to be in the works in February.