Hengeler Mueller advises Blackstone on sale of Berlin residential real estate portfolio to Deutsche Wohnen

02. May 2013

Affiliates of Blackstone Real Estate Partners Europe III have agreed to sell a residential real estate portfolio comprising approximately 6,900 residential units in Berlin to Deutsche Wohnen. The purchase price is EUR 369 m comprised of cash of EUR 260 m and additional shares, making the Blackstone affiliates a 5% shareholder in Deutsche Wohnen. The completion of the transaction is conditional on antitrust clearance and other customary closing conditions.

Blackstone is one of the world’s leading investment and advisory firms. Its alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds.

Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services.

Hengeler Mueller is advising Blackstone on this transaction. The Hengeler Mueller team is led by partners Thomas Müller (M&A/Real Estate, Frankfurt) and Daniel Kress (M&A/Financing, London) and includes partners Jan Bonhage (Public Law, Berlin), Martin Klein (Tax, Frankfurt), Alf-Henrik Bischke (Antitrust, Düsseldorf) as well as associates Thomas Lang, Christoph Allmendinger, Johannes Baumann (all Frankfurt), Marc Roberts (Berlin), Heiko Gotsche (Düsseldorf) and Zahra Rahvar (London).