Goldman Sachs
BUWOG acquires northern Germany portfolio
German-Austrian BUWOG Group has acquired a residential and commercial real estate portfolio in northern Germany from several unnamed international institutional investors for an undisclosed sum. more
Vonovia takes over rival BUWOG in €5.2b deal
Germany's largest residential property company Vonovia is buying Austrian rival BUWOG in a cash deal which values BUWOG at €5.2b. The move will see Vonovia increase its housing stock from 350,000 to 400,000 units, and give it valuable access... more
Nordic Capital Fund VIII swallows German operator Alloheim
Swedish buyout group Nordic Capital is buying Alloheim, Germany’s second-largest nursing home operator, for about €1.1 billion including debt, from the Carlyle Group. Nordic Capital said it intended to support Alloheim’s management... more
Aareal eyes funding opportunities in the US
Fresh from the launch of its second US dollar Pfandbrief, Aareal Bank is eyeing further lending opportunities in the US, Alexander Kirsch, Director, Treasury - Capital Markets, at Aareal Bank, told REFIRE. more
Why London still shouldn’t worry about losing business to Frankfurt, Paris, or any other EU city
Japanese banks Nomura and Daiwa recently indicated they are moving their EU base to Frankfurt and are applying for the appropriate regulatory licences. The announcements follow similar ones from Morgan Stanley and Goldman Sachs, among others. more
German companies find warm welcome for bond issues on capital markets
Several listed German property investors have been taking advantage of the ongoing strength of the German economy and particularly its residential housing market to tap the capital markets for fresh financing. These are unlikely to be the last deals more
Carlyle Group preparing sale of nursing home group Alloheim
Global alternative asset manager The Carlyle Group is getting ready to sell Alloheim, one of Germany's top three nursing home operators, according to a recent report in the German business daily Frankurter Allgemeine Zeitung. Sources in Frankfurt... more
IVG Immobilien brings further banks on board for IPO
As REFIRE reported in recent issues, Germany's erstwhile largest listed property IVG Immobilien AG has embarked on the sale of its core property portfolio under the flag of its new corporate identity as Officefirst Immobilien. Plans seem to be... more
IVG Immobilien prepares €3.25bn office portfolio for sale
Germany's erstwhile largest listed property IVG Immobilien AG has embarked on the sale of its core property portfolio under the flag of its new corporate identity as Officefirst Immobilien. The portfolio comprises 97 office properties, valued at... more
Frankfurt's FBC Tower sold to Berlin group PBM
The imminent sale of the Frankfurter Büro Centre (FBC) skyscraper, in the middle of Frankfurt's central business district, had long been flagged but several bidders were known to have still actively been involved in the auction process pretty much... more
M7 bolsters expansion with major Dutch, German acquisitions
The UK-based M7, a specialist investor and asset manager of multi-let real estate across Europe, has had a busy couple of months, closing on fundraising on no less than three of its funds in the month of October alone. more
Scout24's IPO gets off to hesitant start
Germany's Scout24 Group, which includes ImmobilienScout24, the largest property website in Germany, debuted on the Frankfurt Stock Exchange this week. The company placed 38.64m shares, including 7.6m new shares in the form of new capital raising... more
Cerberus engages UBS to sell off German retail assets
Private equity group Cerberus has hired UBS to find a buyer for its German cash & carry markets after abandoning its original plan to list its retail division through an IPO. The assets, many of which are wholesale markets leased to Metro, are... more
Mount Kellett, Pamera Cornerstone co-invest in Frankfurt
Mount Kellett Capital Management, the New York-based private equity group, has bought the Astropark office complex in Frankfurt in a co-investment with asset manager Pamera Cornerstone., for an undisclosed price. more
LEG on acquisition trail, Goldman exits
The Whitehall Funds of Goldman Sachs took the opportunity earlier this month to dispose of practically its entire holding of 15.2m shares or nearly 29% in LEG Immobilien AG, Germany’s fourth-largest property company by market value. more
Vitus Immobilien owner Round Hill Capital examining exit options
There may yet be another sizeable residential real estate transaction before the end of the year in Germany, as the sector continues to consolidate and the capital markets continue to show appetite for further exposure to the sector. more
Goldman Sachs, Perry sell further LEG holdings for €290m
Goldman Sachs' Whitehall Funds and US hedge fund Perry Capital lightended up their holdings in Düsseldorf-based housing firm LEG Immobilien earlier this month in line with their lock-up arrangements when they raised €290m by selling a further 7... more
Deutsche Bank, Goldman now unwitting new Gagfah shareholders
It’s not really been a good month for Germany property companies tapping the capital markets. Or perhaps it’s fairer to say that the appetite is still there for German residential exposure, but bookrunners are finding out that the market has... more
LEG on target to buy further 10,000 residential units
The Düsseldorf-based listed housing company LEG Immobilien had its first official annual general meeting as a publicly-owned company earlier this month, six months after being floated on the stock market by previous owner Goldman Sachs. more
LEG implements new expansion plan with local acquisition
Düsseldorf-based LEG Immobilien, which was floated earlier this year on the stock exchange by previous owner Goldman Sachs, is wasting little time in implementing its new stated growth strategy, which should see it adding at least 10,000 further... more