degewo AG and GESOBAU AG, both housing companies owned by the State of Berlin, will jointly acquire the “CORPUS SIREO Investment Residential No. 31 GmbH” from CORPUS SIREO. The acquired company owns 4,680 residential and 59 commercial units all over Berlin. It was agreed not to disclose the purchase price.
“We are jointly acquiring a company with an attractive housing portfolio in excellent repair that perfectly complements the housing portfolios of degewo and GESOBAU. This will not only boost our market position, but also raise the number of municipal housing units in Berlin to nearly 275,000,” said Christoph Beck, Member of the Board of degewo. Jörg Franzen, Member of the Board GESOBAU added: “The acquisition sets a positive signal for the tenants, who will benefits from the security and the sustainable business model of the two municipal housing companies.”
Most of the apartments taken over are located in the boroughs of Charlottenburg-Wilmersdorf (1,052 flats), Mitte (771 flats), Neukölln (549 flats), and Tempelhof-Schöneberg (565 flats). The majority of apartments date back to the 1920s and 1930s, and are in unusually well preserved. 55% of the buildings are listed as protected monuments.
The “CORPUS SIREO Investment Residential No. 31 GmbH” housing company, previously named “GHG Wohnen GmbH”, was sold by the BVG public transit authority to CORPUS SIREO in 2005. Said Ralph Günther, CEO of CORPUS SIREO: “At the time we acquired the portfolio, we committed ourselves to a social charter for the benefit of tenants, employees, and the company. By approaching and coming to terms with degewo and GESOBAU we now found buyers who will honour this commitment. This includes, above all, the continued operation of the company, along with grandfather clauses for tenants and employees.”
degewo and GESOBAU will rename the acquired company and jointly operate it in the future.
For more details on the companies involved, please go to:
www.degewo.de www.gesobau.de www.corpussireo.com