Noerr advises Vonovia on the acquisition of 2,400 residential units
Noerr has again advised Vonovia SE on a large portfolio transaction on the German real estate market. The Dax company intends to purchase 2,400 residential units from a joint venture held by the British real estate group Grainger and the US private equity firm Heitman. The transaction is envisaged to be completed by year-end.
For high-volume transactions, Vonovia regularly relies on the advice of Noerr with its market-leading Real Estate Investment Group (REIG). A few weeks ago, Noerr assisted Vonovia in the sale of 13,800 residential units to LEG (transaction volume: €600 million) and also provided advice on the takeover of 19,800 flats from SÜDEWO (transaction volume: ca. €1.9 billion) and of a total of 41,000 flats of the VITUS Group and DeWAG Group (total transaction volume: ca. €2.5 billion). In the present transaction, a team led by the Düsseldorf partners René Dubois, David Zafra Carollo and Professor Alexander Goepfert was involved.
Noerr LLP’s Real Estate Investment Group, which is led by Alexander Goepfert, consists of more than 60 experts from all disciplines of relevance to the real estate industry and with its interdisciplinary collaboration and network has created a service which is unique in the real estate sector. Based on this strategic approach, the REIG has been able over the past few years to continuously increase its market share, being the market leader in Germany in 2014 with its participation in four out of the top 10 transactions (source: Thomas Daily). The REIG also advises on a number of real estate transactions in the mid-cap area.
Advisors to Vonovia SE: Noerr LLP
René Dubois (REIG Corporate), Prof. Dr. Alexander Goepfert (REIG/Real Estate), David Zafra Carollo (REIG/Real Estate, all joint lead)
Associates: Maren Prigge (REIG/Corporate), Dr. Maximilian Schulte (REIG/Real Estate), Dr. Christian Johnen (REIG/Corporate), Dr. Dennis Lepczyk (REIG/Real Estate), Katharina Luther (REIG/Real Estate)