Corporate News
Vitus Corporate Fact Sheet (English)
Vitus Corporate Fact Sheet (German)
Third Party Management Brochure (German)
2012
28.Sept.2012
Vitus Group, a German multifamily operating company with over 50,000 residential units under management, has refinanced all of its existing debt, including €754mm of new CMBS proceeds.
Vitus Group is co-owned and managed by Round Hill Capital on behalf of a private consortium of investors. The new financing structure includes the first continental European ‘CMBS 2.0’ transaction since the beginning of the credit crunch, placing €754mm bonds in a securitization known as FLORE 2012-1 (an abbreviation for the newly-created issuer Florentia Limited). This has been a new agency-style securitisation, where bonds are sold directly on behalf of the borrowers, which are subsidiaries of Vitus Immobilien. Deutsche Bank London acted as lead agent for the securitization. The proceeds of the CMBS issuance were used to refinance the existing senior debt. The issuance was oversubscribed, as investors currently recognize the German residential sector as a 'safe haven' in the context of the current European sovereign debt crisis. The German residential property market has avoided extreme boom periods of speculative overbuilding, and rents have grown steadily over recent decades. Given the German tendency to rent rather than own their housing, many expect this dependable growth pattern to continue.
According to management of Round Hill Capital and Vitus, the refinancing of its senior debt would have been possible either via CMBS bond issuance or via loans from Pfandbrief banks, which for the past four years have strongly supported the recapitalization of the German property market.
Vitus Group, which owns 30,000 residential units and manages an additional 20,000 units for third-party investors, is a full-service German multifamily operating company; Vitus was formerly a collection of government-owned residential companies concentrated in Bremen, Kiel, Mönchengladbach, Leverkusen and Wuppertal. After several years of successful leasing and corporate restructuring efforts by parent Round Hill Capital, Management has reduced vacancy by over 30% and has simultaneously increased rents by 8% over the past 3 years.
» 30 March 2012, Vitus Press Release
KWG Hochhauslauf Plakat (Deutsch)
KWG Hochhauslauf Formulare (Deutsch)
2011
» 28 April 2011, Kieler Nachrichten - "Aufbauen und weiter wachsen"
PDF (German)
Plakat
» 11 January 2011, Vitus Press Release - "Homestory Familie Langer: In ihrer Hammerwohnung mit OBI-Gutschein"
PDF (English)
PDF (German)
2010
» 18 October 2010, Weser-Kurier - "Hochhauslauf war ein voller Erfolg"
PDF (German)
Internetlink
» 5 October 2010, Weser-Kurier - "Ein neues Juwel für die Kinder von Lüssum"
PDF (German)
Internetlink
» 2 October 2010, Kieler Nachrichten - "Mehr Präsenz zeigen: KWG jetzt mit Stadtladen in Gaarden"
PDF (German)
» 20 August 2010, Cash Online - "Vitus-Gruppe kooperiert mit Deutscher Kautionskasse"
PDF (German)
Internetlink
» 1 August 2010, Neuss-Grevenbroicher Zeitung (NGZ Online) - "VfB-SOS mit 300 Patenschaften"
PDF (German)
Internetlink
» 10 June 2010, BürgerZeitung Mönchengladbach (bz-mg) - "Vitus-Sommercamp auch in 2010"
PDF (German)
Internetlink
» 3 June 2010, Kieler Mieterverein - "Mieterverein setzt sich durch: Kieler Wohnungsbaugesellschaft unterschreibt Unterlassungserklärung"
PDF (German)
Internetlink
» 28 May 2010, Faktor Magazin - "1 Million Euro investiert, 10 Million Euro generiert"
PDF (German)
Internetlink
2009
» 22 November 2009, Westdeutsche Zeitung (WZ Newsline) - "Weihnachtsgeld für Neu-Mieter"
PDF (German)
Internetlink
» 3 August 2009, Kieler Nachrichten (KN Online) - "Kribbeln im Bauch vor dem Urlaub am Schweriner See"
PDF (German; scan)
»13 July 2009, Kieler Zeitung - "Koloss Forderte alle Kräfte"
PDF (German; scan)
»28 April 2009, Kieler Nachrichten - "Strandburg bieten Kindern allerlei in der Freizeit"
PDF (German; scan)
» 22 Januar 2009, Rheinische Post (RP Online) - "Hochhaus im Netz"
PDF (German)
Internetlink