GWH

What GWH does

GWH Wohnungsgesellschaft mbH Hessen is a Frankfurt-headquartered, privately held German housing company founded in 1924 and operating as a 100% subsidiary of Landesbank Hessen-Thüringen (Helaba). The company owns and manages approximately 48,182 residential units directly and ~53,000 units in total across Hesse, Lower Saxony, North Rhine-Westphalia, Baden-Württemberg, Saxony, and Rhineland-Palatinate, serving roughly 120,000 residents at an average net cold rent of €8.89 per square meter per month.

The business operates a vertically integrated platform spanning property ownership and rental (the core revenue stream, generating €546.6M in FY2025 group revenue and €217.8M EBIT), property trading and portfolio acquisitions, new construction through GWH Bauprojekte GmbH and the standardized GWH-HessenHaus modular concept (€3,950/sqm fixed price), fund management for institutional investors via GWH WertInvest GmbH (operating since 2019), commercial property management through GGM, crafts and maintenance through GWH WohnWerk GmbH (founded 2024), and heating and energy services through Systeno GmbH. Customer-facing technology includes the GWH home Mieterportal tenant self-service platform, digital rental processes via the Immomio partnership, and the recently launched Gebäude Navigator building management platform with the Navi Heizung sub-module for heating efficiency.

Go-to-market combines direct-to-consumer digital rental (with sales partners such as CAMPO Immobilien for new-build projects like Hannover NordKrone), enterprise sales for portfolio transactions with institutional investors and other housing companies, and municipal partnerships for affordable construction. Customers are distributed across general residential tenants (including market-rate and subsidized housing), senior residents via the integrated #Quartiershäuser care-and-housing concept, students, sustainability-conscious tenants in new-build developments with EV charging and Mieterstrom, and institutional investors via the fund subsidiary — yielding a highly fragmented, low-concentration tenant base.

Name

GWH

Legal name

GWH Wohnungsgesellschaft mbH Hessen

Website

https://gwh.de

Company type

Private

Founded year

1924

Operating status

Operating

Headcount range

11–50 employees

Short description

GWH Wohnungsgesellschaft mbH Hessen is a Frankfurt-based German housing company, wholly owned by Helaba Landesbank, that owns and manages ~48,000 residential units across seven German states, serving 120,000+ residents with affordable rental housing, new construction, property trading, fund management, and energy services.

Ownership category

akta.pro rank

Product category

Residential Real Estate Services

NAICS

Lessors of Residential Buildings and Dwellings (531110), New Multifamily Housing Construction (except For-Sale Builders) (236116), Residential Property Managers (531311)

SIC

Operators Of Apartment Buildings (6513), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Build-to-Rent (BTR) Community Management (BPAJAFAC)

akta.pro secondary industries

Residential General Contracting (New Build) (IMAFAAAB), Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

Keywords

• Residential rental housing
• Affordable housing services
• Property development
• Real estate management
• Neighborhood development

Headquarters

HQ city

Frankfurt

HQ country

Germany

HQ region

Europe

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Residential Rental Income: Core revenue stream from renting approximately 47,000 to 53,000 apartments across Germany. Net cold rent of 8.89 EUR per square meter per month in existing stock. Revenue from rental income is the primary business activity of the company.
2. Property Trading and Acquisitions: GWH buys and sells residential portfolios and properties. Recent transactions include acquisitions in Erkrath (351 units), Bonn (166 units), Düsseldorf-Gerresheim (117 units), Cologne (Yellowstone portfolio), and portfolio sales to institutional investors.
3. Development and Construction: New construction of multi-family buildings through subsidiary GWH Bauprojekte GmbH. Projects include NordKrone Hannover (around 1,400 rental units and townhouses), Varinia Frankfurt, and various other developments. Also includes the standardized GWH-HessenHaus concept.
4. Fund Management (GWH WertInvest): Since 2019, GWH operates as fund house through subsidiary GWH WertInvest GmbH, managing real estate funds for institutional investors.
5. Property Management Services: Subsidiary GGM Gesellschaft für Gebäude-Management mbH (30 years in business) provides commercial property management services for building owners, tenants, and the city of Frankfurt.
6. Handwerk Services (GWH WohnWerk): Since 2024, subsidiary GWH WohnWerk GmbH provides craftsman services, expanding the company's service capabilities for property maintenance and repairs.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels11 records

Core offering

GWH is one of the largest residential housing companies in Hessen, Germany, owning and managing approximately 53,000 apartments that house more than 120,000 residents across Germany. The company rents apartments directly to tenants, develops new residential construction (including the standardized GWH-HessenHaus concept), trades residential portfolios, provides commercial property management through its GGM subsidiary, and since 2019 has operated as a fund house through GWH WertInvest for institutional investors. Its primary revenue driver is recurring residential rental income, supplemented by property sales, new construction, property management fees, and fund management services.

Differentiator

Problem solved

Functional benefit

Brands

• GWH-HessenHaus: A cost-optimized type construction concept for affordable housing development in Hessen, offered at a fixed price of 3,950 euros per square meter of living space.

Quantifiable outcome

• Customer satisfaction - ranked among fairest landlords in Germany (Focus Money study, 32 criteria)
• +4 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature4 records

Partnerships

15 partnerships are on record, tiered minor, strategic and core.

• win e.V. – Wohnen in NachbarschaftenminorStrategic or Co-development Partner · 1 May 2026Social neighborhood association supported by GWH with donations (3,333 EUR) for the Nachbarschaftstreff Kronsberg Süd, including sports equipment for community activities.
• Kirchengemeinde Kassel-SüdminorStrategic or Co-development Partner · 1 January 2026GWH supports the senior lunch program at Stadtteilzentrum Mittelpunkt Brückenhof with 12,000 EUR donation, providing daily meals for 12-20 elderly residents four days per week.
• othermo GmbHstrategicStrategic or Co-development Partner · 1 August 2025GWH Immobilien Holding acquired 25.01% stake in Alzenauer technology company othermo to accelerate the development and deployment of heating technology solutions for the property portfolio.
• Dénes Honus (Systeno)coreOthers · 1 August 2025New Managing Director of Systeno GmbH (GWH heating and energy subsidiary) starting August 1, 2025.
• European Federation for LivingminorOthers · 1 April 2025GWH joined the European Federation for Living (EFL) to participate in cross-border cooperation and influence EU housing policy. Over half of relevant regulations for real estate now originate from the EU.
• Caritasverband Wiesbaden-Rheingau-TaunusstrategicStrategic or Co-development Partner · 1 January 2025Social partner managing the Quartierstreff and providing nursing support for elderly residents in the Schelmengraben Quartiershaus project. Supports long-term independent living for seniors.
• GWH Digital GmbHcoreOthers · 1 January 2025Subsidiary focused on digital services and innovation for the GWH group.
• CAMPO ImmobiliencoreChannel Partner/ Reseller/ Distributor · 1 July 2024Sales partner managing the marketing and rental process for the NordKrone Hannover new construction project. CAMPO handles viewings, sales consultations, and rental applications for GWH's new build apartments in Kronsrode.
• AvaconcoreStrategic or Co-development Partner · 1 January 2024Energy partner for Kronsrode providing tenant electricity (Mieterstrom) from photovoltaic systems on rooftops at approximately 10% below standard tariffs. Also provides EV charging infrastructure via R-fit wallbox system.
• LichtBlick eMobility GmbHminorStrategic or Co-development Partner · 1 January 2024Partnership for electric vehicle charging infrastructure. GWH installed first charging stations in Kassel-Helleböhn and continues expanding EV charging options at properties.
• GWH WohnWerk GmbHcoreOthers · 1 January 2024Newly founded craftsman company expanding GWH's service capabilities for property maintenance and repairs as of August 2024.
• Immomio GmbHcoreTechnology or Integration · 1 January 2023Digital rental process partner enabling end-to-end digital apartment search, application, document submission, and viewing scheduling. Provides exclusive housing offers before other portals, matching profiles, and chat support.
• Frauen in Führung (F!F)minorOthers · 1 January 2023Leading diversity network for the German real estate industry promoting women in leadership positions. GWH has been a member for two and a half years.
• st Stadtmobil HannoverminorStrategic or Co-development Partner · 1 January 2022Car sharing partnership in Kronsrode providing two car sharing spaces at Baufeld A1.2 for tenant use, promoting sustainable mobility in the new neighborhood.
• GWH WertInvest GmbHcoreOthers · 1 January 2019Subsidiary managing real estate funds for institutional investors. GWH has been operating as a fund house since 2019, expanding into asset management.

Scale indicators15 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• TAG Immobilien AG: German residential property company with approximately 90,000 units focused on northern and eastern Germany. Comparable landlord-developer-operator model with similar BTR-style portfolio strategy.
• LEG Immobilien SE: NRW-focused residential real estate company with approximately 140,000 units. Closely comparable to GWH in business model (rental, management, development) though focused on a different German state.
• Grand City Properties SA: German residential company focused on BTR in urban locations, with approximately 65,000 units. Comparable in portfolio strategy (own and rent) and acquisition-led growth, though listed and concentrated in densely populated cities.
• SAGA Siedlungs-Aktiengesellschaft Hamburg: Hamburg's municipal housing company with over 130,000 units. Comparable as a state-related, mission-driven housing company combining ownership, new construction, and tenant services.
• Akelius Deutschland GmbH: German arm of Akelius with residential apartments in major German cities. Comparable as a long-term residential owner-operator with focus on property quality and tenant services.
• Deutsche Wohnen SE: Major German residential property company with a portfolio of over 150,000 units, focused on urban apartments in Berlin and other major cities. Operates the same vertically integrated own-rent-manage model as GWH.
• Nassauische Heimstätte | Wohnungsgesellschaft mbH: Hessen-based state-owned housing company with approximately 55,000 units. The most direct peer given identical geography (Hessen focus), similar scale, comparable affordable housing positioning, and state-bank ownership structure parallel to GWH's Helaba parentage.

Broad incumbents

• Vonovia SE: Germany's largest residential property company with approximately 500,000 units. Directly comparable as a vertically integrated landlord/developer/manager, though operating at much greater scale across Germany and Europe.

Regional players

• Gesobau AG: Berlin municipal housing company with approximately 45,000 units. Directly comparable in business model and scale, though focused exclusively on Berlin rather than operating across multiple German states.
• Howoge Wohnungsbaugesellschaft mbH: Berlin municipal housing company with over 80,000 units. Comparable as a state-related housing company combining affordable rentals with new construction and tenant services, though geographically focused on Berlin.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCAAFkeHBoISC32_3Z2Ur9vw
• Facebookfacebook.com/GWH.Wohnen
• LinkedInlinkedin.com/company/gwh-wohnungsgesellschaft-mbh-hessen
• Instagraminstagram.com/gwh.de

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GWH