Acquisition by Deutsche Annington created the largest residential landlord in Germany
Viterra was a predominantly residential Germany property company with nearly 138,000 units owned or under management when it was bought as part of Deutsche Annington’s acquisition strategy in 2005.
The Viterra operations were integrated into Deutsche Annington’s, generating significant synergies and creating the leading and largest private residential housing company in Germany. Deutsche Annington has an industry-leading platform for the management of its properties offering its customers a competitive range of properties with excellent service.
Deutsche Annington invested heavily in enhancing the attractiveness of its properties to tenants. In the five years to 2011, it spent more than €780m on maintenance and property improvements. It also undertook a comprehensive strategic initiative to increase customer satisfaction across its operations and enhance operational efficiencies. After investing more than €100m, the project has set new standards in the German housing industry.
In 2006, Deutsche Annington was transferred from TFCP I to a new €2.1bn fund, Terra Firma Deutsche Annington (TFDA), with TFDA acquiring an 82.5% interest in Deutsche Annington and other investors acquiring the remaining 17.5% interest. In 2013, Deutsche Annington completed an IPO and began trading on the Frankfurt Stock Exchange. In May 2014, with Terra Firma’s ownership of Deutsche Annington at 67.3%, TFDA distributed its Deutsche Annington shares on a pro rata basis to the TFDA investors.