Vonovia completed the acquisition of Bien-Ries.

Vonovia, a private residential real estate company, completed the acquisition of Bien-Ries, a seller and renter of residential complexes and individual houses. Financial terms were not disclosed. With the takeover, Vonovia continues to expand the Development segment and extends the previous locations in Vienna and Berlin with the new location in Hanau. "We are glad to be able to further complete our successful development business with the Bien-Ries AG and its employees. The current projects suit us very well. And we will continue to realize exciting projects with the team in the future," Daniel Riedl, Vonovia Member of the Board.