DeWAG Wohnen

What DeWAG Wohnen does

DeWAG Wohnen GmbH & Co. KG is a Stuttgart-based, privately-held residential real estate investor and asset manager active across Germany's metropolitan regions. The company manages a portfolio of 76 residential and mixed-use properties comprising 4,035 housing and commercial units, approximately 252,430 square meters of living space, and 952 million EUR of assets under management across 28 locations, employing 53 staff as of the most recent disclosure.

Its core offering combines active asset management, portfolio development, and selective property transactions on behalf of institutional investors (pension funds such as Syntrus Achmea, PGIM Real Estate, MEAG/Munich Re, and a long-standing JV partner Indigo Invest that also took a 2024 equity stake). Services include the acquisition, energy-efficient modernization (upgrading buildings from energy classes D–F to A or B), densification via rooftop conversions and additional storeys, assisted-living partnerships (e.g., EVIM), condominium sales, and in-house property management through DeWAG Immobilienverwaltung GmbH. In 2025 the company added a new-build project development division.

Revenue derives from asset management fees (recurring), rental income from owned stock, transaction fees on portfolio acquisitions and sales (approximately 222 million EUR of transactions in 2022; ~1.1 billion EUR five-year cumulative volume), and selective condominium sales. Go-to-market is enterprise B2B field sales combined with a B2C tenant letting channel, supported by an in-house property management subsidiary. The company has no disclosed AI or proprietary technology stack; its primary differentiation rests on GRESB-leading sustainability credentials (five-star ratings, four consecutive German first places) and DGNB Gold certifications.

Name

DeWAG Wohnen

Legal name

DeWAG Wohnen GmbH & Co. KG

Website

https://dewag.de

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

DeWAG Wohnen is a Stuttgart-based residential real estate investor and asset manager managing 952M EUR AUM across 76 properties and 4,035 units in Germany's metropolitan regions, serving institutional investors via JV partnerships and asset management mandates.

Ownership category

akta.pro rank

Product category

Residential Real Estate Asset Management

NAICS

Residential Property Managers (531311), Real Estate Property Managers (53131)

SIC

Operators Of Apartment Buildings (6513), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Residential Real Estate Asset Management (BPAJAMAA)

akta.pro secondary industries

Senior Living Property Management (BPAJAGAI), Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

Keywords

• Residential real estate investment
• Asset management services
• Portfolio acquisition management
• Energy-efficient modernization
• Sustainable property management

Headquarters

HQ city

Stuttgart

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Asset Management Fees: DeWAG earns fees for managing residential property portfolios for institutional investors and family offices on a long-term basis
2. Rental Income: Revenue from renting residential and commercial units in their owned property portfolio
3. Property Transactions: Revenue from buying and selling residential portfolios, including transaction fees and value-add through modernization. In 2022, transactions totaled approximately 222 million EUR. Five-year transaction volume reached approximately 1.1 billion EUR.
4. Property Development: Revenue from densification projects including additional storeys, loft conversions, and new builds on existing sites
5. Condominium Sales: Selective sale of apartments as condominiums in selected properties

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

DeWAG Wohnen invests in and manages residential real estate portfolios across Germany's metropolitan regions on behalf of institutional investors and family offices, as well as through its own holdings. The company delivers active asset management covering acquisition, energy-efficient modernization, densification through rooftop conversions and extensions, ongoing property management, and execution of exit strategies. In addition, it directly lets residential apartments, commercial spaces, and assisted-living units to private tenants and local businesses.

Product overview

DeWAG Wohnen is a Germany-wide residential real estate investor and asset manager headquartered in Stuttgart. The company operates a portfolio of 76 residential properties with 4,035 housing units and approximately 252,430 m² of living space across 28 locations in metropolitan regions. Their core offering combines active asset management with portfolio development and modernization services. The company manages residential properties across various lifecycle stages—from classical rental apartments to assisted living and serviced living concepts. They create additional housing through densification measures including rooftop additions and loft conversions. The service portfolio includes property management (with growing in-house capabilities), assisted living services in partnership with organizations like EVIM, commercial property management for ground-floor retail spaces, and private residential property sales (condominiums). The company has recently expanded into new construction development (Projektentwicklung Neubau Wohnen) targeting projects with 100+ units in major German metropolitan areas.

Differentiator

Problem solved

Functional benefit

Products and services

• Asset Management

Quantifiable outcome

• Assets under Management increased from 840 Mio. EUR (2021) to 952 Mio. EUR (2022)
• +5 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• EVIM (Evangelischer Verein für Innere Mission)coreStrategic or Co-development PartnerPartner for assisted living services at selected properties. DeWAG does not operate traditional retirement complexes itself but works with partners like EVIM to provide service levels tailored to residents' preferences and needs.
• Plan International DeutschlandminorOthersInternational child welfare organization supported annually by DeWAG. Projects include sustainable agriculture and climate protection in Laos (2022-2023), employment prospects for youth in Bolivia (2021), safe schools in Nepal (2020), nurseries in Cambodia (2019), child trafficking prevention in Philippines (2018), education in Malawi (2017), clean water in Ghana (2016), ending child labor in Tanzania (2015), and school access for girls in Guatemala (2014). Focus on improving living spaces.

Scale indicators11 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Patrizia AG: European real estate investment manager with strong German residential and pan-European asset management franchise. Direct peer as an independent pan-European/German-focused investment manager serving institutional investors with active residential strategies.
• Catella Group: European real estate investment manager with German/European asset management, investment and fund management capabilities. Direct peer as a mid-size European real estate investment manager serving institutional investors.

Broad incumbents

• Deutsche Wohnen: Major German residential portfolio company, focused on Berlin and other metropolitan markets, now part of Vonovia. Highly comparable business (residential asset management and rental in German metros) but at significantly larger scale.
• LEG Immobilien: NRW-focused listed German residential operator with ~166k units. Comparable German residential rental + asset management platform with a similar in-house management focus, though larger and listed.
• Vonovia: Germany's largest residential landlord and listed residential operator with ~500k+ units. Comparable as a scaled German residential owner-operator/asset manager, but operates at national scale with full in-house property management rather than DeWAG's JV-driven, sustainability-niche model.
• TAG Immobilien: German residential and commercial specialist listed in Germany, focused on B-/C-tier cities and value-add in residential stock. Closely comparable active asset management with value-add strategies on existing residential stock, similar to DeWAG's energy modernization approach.
• Grand City Properties: German/European value-add residential landlord focused on German metropolitan areas. Comparable business of acquiring and repositioning residential portfolios in German cities with an emphasis on cash-flow and value-add through modernization.

Others

• Indigo Invest: Düsseldorf-based German real estate investment company and DeWAG's core JV partner and shareholder. Included as a strategic partner/overlapping investor rather than a pure competitor — operates in the same German residential space with co-invested portfolios.

Regional players

• Vivawest: German residential housing company owned by RWE/Evonik pensions, focused primarily on North Rhine-Westphalia. Comparable as a German institutional residential owner-operator with in-house asset management and sustainability programs.

Emerging players

• BrickVest (realxstate/PropTech): European digital real estate investment platform connecting institutional investors with residential and other real estate opportunities. Emerging-peer analog as a platform-based approach to institutional residential investment with a sustainability/ESG focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 DeWAG Wohnen