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Deutsche Wohnen Acquires Almost 3,000 Property Units In Metropolitan Regions

Deutsche Wohnen (DWHHF.PK) announced it has concluded an agreement for the acquisition of a portfolio with approximately 2,850 residential and 100 commercial units, structured as an asset deal. The company noted that the residential units are located in the metropolitan regions of the Rhine-Main area, Cologne and Düsseldorf. The purchase price of approximately 685 million euros implies a multiple of 29.1 on a fully rented basis. The company expects the portfolio to initially generate around 22 million euros in annual net cold rent.

Deutsche Wohnen stated that, with the acquisition, it is underlining focus on economically strong metropolitan regions in Germany.

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