HOWOGE Expands Housing Portfolio with Acquisition of 4,500 Apartments

HOWOGE Wohnungsbaugesellschaft mbH, a significant public housing entity, announced the strategic acquisition of PRIMA Wohnbauten Privatisierungs-Management GmbH, which includes 4,495 apartments located predominantly in Berlin's Lichtenberg borough. The purchase, valued at EUR 700 million, is set to finalize on 1st January 2025. This move not only enhances HOWOGE's holdings but fits seamlessly into its existing property management model.

In addition to residential properties, the acquisition encompasses two commercial units, several other properties, and 873 parking spaces. These assets include a glass fibre network and solar cell systems, reflecting HOWOGE's ongoing commitment to sustainable housing solutions. The company plans to finance this expansion through a mix of securely and unsecured financial instruments, highlighting their robust capital structure and strategic financial management.

Furthermore, HOWOGE's collaboration with Berlinovo Immobilien Gesellschaft mbH in purchasing SEG Buch aims to develop public sector-driven residential projects on approximately seven hectares of building land, part of a larger 40-hectares plot in Berlin-Buch. This initiative aligns with the city's broader housing objectives, ensuring a significant addition of publicly managed residential spaces to Berlin’s housing market.