Changes in the Portfolio

At the beginning of the 2016 fiscal year, one portfolio, comprising 2,417 apartments predominately located in Baden-Württemberg, was incorporated into our portfolio.

The GRAINGER acquisition portfolio was as follows at the time of the takeover:

 

 

 

 

 

 

 

 

In-place rent

GRAINGER

 

Units

 

Living area
(in thou. m2)

 

Vacancy rate
(in %)

 

(p.a. in € million)

 

(€/m2/month)

 

 

 

 

 

 

 

 

 

 

 

Acquisition portfolio

 

2,417

 

152

 

4.9

 

12.3

 

7.06

In the course of 2016, properties in the and Non- portfolios were sold as part of several partial sales during the implementation of the portfolio management strategy.

At the time of the sale, the statistics for the portfolios sold were as follows:

 

 

 

 

 

 

 

 

In-place rent

Package sales

 

Units

 

Living area
(in thou. m2)

 

Vacancy rate
(in %)

 

(p.a. in € million)

 

(€/m2/month)

 

 

 

 

 

 

 

 

 

 

 

Sales portfolios 2016

 

19,716

 

1,228

 

6.4

 

65.9

 

4.80

Non-Core/Non-Strategic
In the “Non-Core” subportfolio, our focus is on selling properties in locations that offer below-average development potential in the medium to long term to private and institutional investors. Limited potential is defined, in particular, by below-average property condition combined with a location that is of similarly below-average quality.
The “Non-Strategic” subportfolio contains locations and properties that were identified in the latest extensive review of the overall portfolio as not being absolutely essential for further strategic development. Properties in the “Non-Strategic” portfolio are reviewed on a regular basis and offer further sale potential.
Strategic
The “Strategic” subportfolio contains locations that offer development potential that is above average and for which we are pursuing a value-enhancing property management strategy.