Global legal practice Squire Sanders has advised listed residential property company, Deutsche Wohnen AG, on the acquisition of a real estate portfolio of approximately 6,900 units in Berlin from Luxembourg affiliates of Blackstone Real Estate Partners Europe III. The purchase price for the acquisition consists of €260 million in cash and 8,150,000 new shares, which will result in the Blackstone Funds becoming a 5% shareholder in Deutsche Wohnen. The acquisition will complete following merger clearance and registration of the capital increase with the commercial register.
Deutsche Wohnen is listed on the Deutsche Boerse’s MDAX. With a real estate portfolio of 83,500 units, it is one of the largest publicly listed residential property companies in Germany.
The Squire Sanders team advising Deutsche Wohnen is led by Dr Kai Mertens, partner in corporate and corporate finance, supported by Hagen Reinsberg (Luxembourg corporate matters) and Navid Anderson, all from the firm’s Berlin office.