The controversial sale of a Deutsche Bahn residential estate has been resolved with the portfolio being split between the two bidders.
Nomura International’s Principal Finance Group (PFG) will be awarded 60% of the 120,000 apartment portfolio while quoted Germany company WCM will receive the remaining 40%. The sale price is around €3.9bn (DM7.6bn).
The bidding process was restarted after WCM was awarded the portfolio with a price of €3.6bn (DM7bn) when PFG’s Annington Deustchland bid €4.1bn (DM8bn).
The homes are owned by the German government and occupied by German rail union members.
In the Netherlands, German insurance company Allianz has sold its housing portfolio to Dutch fund manager Achmea Global Investors for €145m (NLG320m).
The portfolio which comprises 1,500 houses, 124 garages and 9 shops is spread over 22 locations in the Netherlands. The annual rent roll is €8.6m (19m).
