German residential property company Deutsche Wohnen plans to buy as many as 1,000 more apartments by the end of the year and double the amount of properties it owns by 2009. Deutsche Wohnen, based in Mainz, acquired 1,000 apartments in the first three months, bringing the total size of its portfolio to about 21,000, spokesman Hubert Bonn said on Tuesday. News agency Bloomberg reported that Deutsche Wohnen 's goal is to own between 40,000 to 50,000 properties by the end of 2009. Deutsche Wohnen plans to offer up to EUR 400 million in new shares as early as this year in exchange for property from buyers.
German residential property company Deutsche Wohnen plans to buy as many as 1,000 more apartments by the end of the year and double the amount of properties it owns by 2009. Deutsche Wohnen, based in Mainz, acquired 1,000 apartments in the first three months, bringing the total size of its portfolio to about 21,000, spokesman Hubert Bonn said on Tuesday. News agency Bloomberg reported that Deutsche Wohnen 's goal is to own between 40,000 to 50,000 properties by the end of 2009. Deutsche Wohnen plans to offer up to EUR 400 million in new shares as early as this year in exchange for property from buyers.
The company confirmed it may miss a full-year profit target of EUR 15 mln after stalled apartment sales led to a loss of EUR 3.23 mln in the first quarter. But the management said it remained confident of selling between 1,000 and 1,200 residential units by the end of this year, Bloomberg said.
