Deutsche Wohnen profits from revaluation and rent increases
Deutsche Wohnen increased its gains in the first nine months of 2017 by €43.4mn to €706.0mn, FFO increased by 8.9 % to €330mn. The company explains that this was in part due to a revaluation of the portfolio by nearly €900mn to €17.2bn at mid-year. The average monthly rent for the more than 163,000 residential and commercial units was €6.33/sqm at the end of September. Like-for-like, the rent increase is 4.2 %. Vacancy is at 1.7 % (previous year: 1.5 %), of which about 0.5 % is investment-related. The company sold over 3,000 units between January and September. Deutsche Wohnen anticipates FFO of at least €425mn for all of 2017.
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