Dawonia Real Estate

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Dawonia Real Estate GmbH & Co. KG

logo
legal form GmbH & Co. KG
founding 1936/2013
Seat Munich , GermanyGermanyGermany 
management
  • Claus Lehner (Chairman of the Management Board)
  • Simone Büber-Monath (Managing Director)
  • Sebastian Gefeller (Managing Director)
Number of employees 300
Branch Housing industry
Website www.dawonia.de

former logo

The Dawonia Real Estate GmbH & Co. KG is the leading company of Dawonia until December 2018 known as GBW group and majority shareholder of Dawonia GmbH. Dawonia GmbH was originally founded in 1936 as a building contractor for Bavarian crafts . It was later listed on the stock exchange as GBW Aktiengesellschaft and in the inter-war and post-war periods in Bavaria and Baden-Württemberg it was one of the construction companies that made a significant contribution to alleviating the housing shortage at the time. Today Dawonia manages around 30,000 apartments in metropolitan areas in southern Germany. The group of companies emerged from the merger of several housing companies in Bavaria.

history

Registered share of DM 1000 in the non-profit Bavarian Housing Association from October 1962

Dawonia Real Estate was originally founded on July 13, 1936 under the name “Bauträger AG des Bavarian Crafts”. The company was committed to publicly subsidized housing construction (formerly known as small housing construction, today social housing construction). In 1940 the Bauträger AG became a non-profit organization and the company name GBW, which was used until 2018, was created. Back then it stood for the non-profit Bavarian housing company . Since January 2019 the former GBW Group has been operating under the “Dawonia” brand. The name change is in connection with the new corporate strategy as well as the expanded geographical area of ​​activity. After the war, 10 percent of the 904 apartments in Dawonia were completely destroyed and 17 percent were moderately to slightly destroyed. In the 1950s, Dawonia participated in the rebuilding of the Bavarian housing market. It was built for its own portfolio, but also as a developer. This is how thousands of condominiums were created, spread across the Free State of Bavaria. In the early 1960s, Dawonia started building large housing estates in and around Munich .

When Munich was awarded the contract for the 1972 Summer Olympics , Dawonia took part in the construction of the Olympic Village , which became a problem because it caused high costs. In the contracts for the construction of the Olympic Village, responsibility for the gap between the pedestrian bridges and the houses was not defined. It was not clear whether the developer of the bridge or the house was responsible. The first water damage occurred during the Games, which was followed by expensive repairs. At the same time, the demand on the housing market had evaporated. Dawonia could no longer sell many of their condominiums. Thanks to the commitment of the Bayerische Landesbank, Dawonia was saved.

In the years that followed, Dawonia focused on building their own homes. In the mid-1990s, demand for home ownership collapsed. Dawonia then decided to focus its activities on its own portfolio. In 2007 the Bayerische Landesbank decided to bundle its scattered housing stock in Bavaria and this is how the GBW Group, now known as Dawonia Real Estate, was created with a total of around 30,000 apartments.

On October 15, 2012 BayernLB started the GBW Group's sales process. In doing so, the bank fulfilled an obligation to the EU Commission that resulted from the state aid proceedings concluded on July 25, 2012. Accordingly, BayernLB had undertaken to dispose of its approximately 92 percent stake in GBW AG in full by the end of 2013 in a non-discriminatory and transparent bidding process. When it comes to the question of whether a sale had to be made to the highest bidder, Prime Minister Söder and then EU Commissioner Almunia testify against testimony. The sales process lasted almost half a year. A consortium of investors led by Patrizia Alternative Investments GmbH was awarded the contract by Bayerische Landesbank in April 2013 and bought the majority of shares in GBW AG for 2.45 billion euros. In the aftermath there were various criticisms. When the company was sold, a social charter was agreed that protects the tenants in modernization and refurbishment measures beyond what is legally required. Compliance with this is checked every year by the auditing company Deloitte and published by Dawonia. In all reports published so far in 2013, 2014, 2015, 2016 and 2017, compliance with the Deloitte Social Charter was confirmed.

Even after the takeover by the consortium around Patrizia, Dawonia continues to expand its portfolio in southern Germany. In Erlangen , 600 new apartments have been built since the end of 2016 and a new building project with 191 apartments was acquired in Nuremberg . In Regensburg in the Burgweinting district, 126 apartments with 114 underground parking spaces and 189 bicycle spaces will be built in seven buildings by the end of 2017. 39 apartments are subsidized based on income. The Hessen region is also in focus. In April 2016, a residential project with 120 apartments was purchased in Offenbach , which will be built by the end of 2018. In addition, 336 apartments were acquired in Frankfurt-Niederrad in October 2016 , which the property developer Bien-Ries AG will complete by the end of 2019.

On December 19, 2018, the GBW Group announced that it would appear as Dawonia from mid-January 2019.

criticism

After the rents for many residents have risen sharply and, according to the Munich tenants' association, people are systematically being pushed out of their apartments in order to rent or sell them at high prices, the controversial sale of the GBW apartments was again the subject of a debate in the Bavarian state parliament in October 2016 .

Web links

Individual evidence

  1. ↑ Fair Company: GBW Group - basic data (own information)
  2. ^ Fair Company: Profile. GBW Gruppe - Basic data (self-reported), accessed on July 17, 2017 .
  3. ↑ a b c d Claudia Schuh: A piece of German building history. Construction South: GBW AG celebrates its 75th anniversary. Bayerische Staatszeitung , November 4, 2011, accessed on October 21, 2016 .
  4. ↑ Dawonia. Retrieved May 13, 2019 .
  5. ↑ State aid: Commission approves BayernLB's restructuring plan on condition that it repays EUR 5 billion in state aid. European Commission, accessed on July 17, 2017 .
  6. ↑ Klaus Ott, Wolfgang Wittl: Söder gets into trouble because of the GBW apartment sale . In: sueddeutsche.de . June 7, 2018, ISSN  0174-4917 ( sueddeutsche.de [accessed June 26, 2019]).
  7. ↑ BayernLB successfully sells its 92 percent stake in GBW AG to an investor consortium led by Patrizia. Bayerische Landesbank, April 8, 2013, accessed on July 17, 2017 .
  8. ↑ Patrizia buys GBW apartments: "Now it is necessary to prevent worse" . In: sueddeutsche.de . April 1, 2013, ISSN  0174-4917 ( online [accessed October 21, 2016]).
  9. ↑ Report on compliance with the regulations mentioned in the “Social Charter” in the reporting period from May 27, 2013 to December 31, 2013. Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft, accessed on May 27, 2019 .
  10. ↑ Report on compliance with the regulations named in the “Social Charter” in the reporting period from January 1 to December 31, 2014. Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft, accessed on May 27, 2019 .
  11. ↑ Report on compliance with the regulations mentioned in the “Social Charter” in the reporting period from January 1 to December 31, 2015. Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft, accessed on May 27, 2019 .
  12. ↑ Report on compliance with the regulations mentioned in the “Social Charter” in the reporting period from January 1 to December 31, 2016. Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft, accessed on May 27, 2019 .
  13. ↑ Report on compliance with the regulations named in the “Social Charter” in the reporting period from January 1 to December 31, 2017. Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft, accessed on May 13, 2019 .
  14. ↑ Erlangen: GBW plans are taking shape. December 23, 2016. Retrieved July 17, 2017 .
  15. ↑ Haufe-Lexware GmbH: GBW Group buys residential area in Nuremberg . In: Haufe.de news and specialist knowledge . ( Online [accessed July 17, 2017]).
  16. ↑ Roland Ebner: Moving vehicles should roll up in December. In: Mittelbayerische Zeitung. March 15, 2017. Retrieved July 17, 2017 .
  17. ↑ THOMAS DAILY - GBW buys first residential project in Hessen. Retrieved July 17, 2017 .
  18. ↑ Nicole Brevoord: giant jerk in the office district Niederrad - 336 rental apartments and even more in the Hahnstraße . In: Journal Frankfurt . ( Online [accessed July 17, 2017]).
  19. ↑ GBW Group: GBW Group will be called Dawonia from mid-January 2019. In: Website dawonia.de. GBW Gruppe, December 19, 2018, accessed February 6, 2019 .
  20. ↑ Sale of the GWB apartments: Bavaria's tenants - victim of a grasshopper? , Münchner Merkur , October 20, 2016.
  21. ↑ A top seller among capital investors , SZ, August 10, 2016.