Global law firm Dentons has advised Vonovia on the acquisition of a portfolio of 1,000 apartments in the German city Kiel. The seller is Danish H&L Ejedndomme A/S. As part of the transaction, the employees of the owner company will be taken over by Vonovia. The parties have agreed not to disclose the purchase price.
Vonovia SE is Europe's leading private housing company and owns approximately 416,000 apartments in Germany, Sweden and Austria. In addition, the company manages close to 79,000 apartments. Vonovia’s portfolio value is approximately €53.3 billion. The company has been listed on Germany’s DAX since 2015. In the Kiel region, Vonovia currently manages around 23,000 apartments. The company employs a total of 300 employees in the city and last opened a new office in the Zukunfts-Quartier in Kiel-Gaarden in December 2019.
A Dentons team from Munich, Dusseldorf and Berlin provided comprehensive advice to Vonovia on the transaction. Earlier this year, Dentons advised Vonovia on the purchase of the residential property developer Bien-Ries as well as on the acquisition of shares in the Dutch residential real estate fund Vesteda Residential Fund.
Advisors to Vonovia SE:
Dentons (Munich): René Dubois (Partner, co-lead, Corporate and Real Estate), Jessica Vorster (Senior Associate, coordination Due Diligence, Real Estate), Michael Singer (Senior Associate), Elisa Kluge (Associate), Lisa Schmidbauer (Associate), Ena Kurbegovic (Associate, all Corporate) and Léna Feldle von Schickfus und Neudorff (Transaction Lawyer)
Dentons (Dusseldorf): David Zafra Carollo (Partner, co-lead, Real Estate), Dr. Florian Wiesner (Partner), Arne Karsten (Senior Associate, both Competition and Antitrust), Janina Diesem (Senior Associate, Real Estate)
Dentons (Berlin): Laura Appell (Senior Associate, Real Estate)