Deutsche Wohnen Corporate Real Estate GmbH

Deutsche Wohnen Corporate Real Estate GmbH combines the responsibilities for portfolio management, acquisition, and disposals. Our value chain begins and ends there. The portfolio management includes detailed market and property analyses. This review forms the basis for a competent evaluation of the residential property portfolio as well as for potential acquisitions and disposals.

› With our local market knowledge and a detailed analysis of all factors relevant to operating profit, we create the basis for the continuous optimisation of our core portfolio. ‹

Our portfolio planning covers all 174 locations in which we are represented. The majority is located in our core markets Berlin, Frankfurt/Main and the Rhine Main area. We plan to acquire fur ther holdings here according to our portfolio strategy, in order to integrate them into our portfolio or to sell them as condominium units, the so-called privatisation. In addition to operative growth, mergers, acquisitions, and large portfolio acquisitions are at the centre of the long-term planning. These acquisitions are the responsibility of the Management Board and are carried out in close cooperation with the portfolio management. Against the backdrop of additional, sustainable growth, we plan to also use market opportunities in other metropolitan areas in addition to our core regions, if the property corresponds to our portfolio strategy.

› In 2010 we will buy up additional property which ensures economies of scale in the asset management and opens up new potentials for single privatisation. ‹

Divestitures are made on the basis of detailed sales plans with a largely independent and highly qualified sales team. We have clearly defined the property to be disposed according to the portfolio analysis. Block sales primarily serve the portfolio adjustment and will be enhanced in the coming year, as well. We were able to sell the majority of these holdings at fair value in 2009. In single privatisation, we already exceeded our target value for 2009 in October.

› In the single privatisation alone, we were able to increase the number of sold units by 17.8 % to an aggregate of 675 units compared to 2008 through successful marketing in 2009. ‹

Through the continuous examination of the holdings and the careful selection of new property, we are in a continuous process of change, reorganisation, and optimisation. Strategic acquisitions make a significant contribution to the increase of our portfolio value which we determine via internal expert assessments. For the validation of these expert assessments, we have our entire holdings evaluated externally once a year.

Disposals in EUR m
Disposals in EUR m (Bar Chart)

My Annual Report

Transaction volume 2009 EUR 85.7 million

Fair Value: EUR 2.8 billion