Investment highlights

Investment highlights

I. Attractive market conditions

Undersupplied residential market with high demand for rental apartments in Europe’s strongest economy

II. Unique business model

Development of residential units in Germany’s top cities with forward sales to institutional investors to focus on early cash flows and minimize development risks

III. Strong development portfolio

Leading residential developer with a development portfolio of € 12.3bn split into 65 projects and a total net floor area of 2.25m sqm, with strong future growth

IV. Superior Operational Capabilities

Construction track record of more than 20 years and c. 750 employees across 15 regional offices and pioneer in the digitalization of construction and planning processes

V. Strong Financial Performance

High development activities through forward-selling and construction progress with a target EBIT pre-PPA of €450m in 2020 and a Net Debt/Ebit pre-PPA ratio of 3.0x