Defo: Portfolio with 120,000 m² goes to SVP
Deutsche Fonds für Immobilienvermögen GmbH (DEFO), a firm of the Union Investment Group, has sold a portfolio of office and business properties with a total area of over 120,000 m² to a Luxemburg fund company represented by Strategic Value Partners (SVP). The properties are located primarily in the high density areas of Berlin, Hamburg, Düsseldorf, Frankfurt, Stuttgart, and Munich. The transaction took place within the framework of a limited bidding process. Silence was agreed to over the purchase price.
According to its own information, DEFO diversifies and internationalizes its portfolio with the deal. “We are planning acquisitions in European countries outside of Germany, as well as investments in the retail, hotel, and logistics areas,� explains the firm's management.
DEFO was advised by DTZ Zadelhoff Tie Leung GmbH, Ernst & Young Real Estate GmbH, and Latham & Watkins LLP, Strategic Value Partners by Clifford Chance LLP (Frankfurt), Hochtief AG, Triacon GmbH, and Jones Lang LaSalle (Frankfurt).