Deutsche Wohnen Group

Deutsche Wohnen SE was a prominent German residential real estate company founded by Deutsche Bank in 1998 and headquartered in Berlin. As Germany's second-largest residential property company, Deutsche Wohnen built an extensive portfolio of approximately 140,000 residential units through strategic acquisitions, becoming Berlin's largest private landlord. The company had deep historical roots in Berlin's housing sector, owning four UNESCO World Heritage sites and maintaining connections to its predecessor GEHAG, founded in 1924. Deutsche Wohnen was publicly traded on the Frankfurt Stock Exchange and became one of the 30 companies composing the prestigious DAX index, reflecting its significant market position in German real estate. The company specialized in residential property management, development, and investment, focusing primarily on metropolitan areas with strong economic fundamentals, particularly Berlin and other major German cities. Deutsche Wohnen's business model centered on acquiring, renovating, and managing residential properties while maintaining long-term rental relationships with tenants. However, the company faced significant public scrutiny and political opposition, particularly in Berlin, where rising rents and housing affordability became major social and political issues. The 'Deutsche Wohnen Enteignen' (Expropriate Deutsche Wohnen) campaign gained substantial support, culminating in a public referendum where the majority of Berliners voted in favor of nationalizing large residential property companies. In 2021, after three attempts, Vonovia SE successfully acquired Deutsche Wohnen in a landmark €19 billion merger that created Europe's largest residential real estate group with over 550,000 apartments. The merger was approved by German competition authorities but required significant concessions, including rent increase limitations and the sale of 20,000 apartments to Berlin. Since the acquisition, Deutsche Wohnen operates as a subsidiary of Vonovia SE, with the combined entity managing a portfolio worth approximately €90 billion across Germany and other European markets.