Patrizia, conwert, communes eye €2.5bn GBW as Immofinanz exits – blog

17 February 2013, 01:07 PM

The withdrawal of Austria’s Immofinanz from bidding at around €2.5bn for Bavaria landesbank’s 32,000-unit southern German GBW housing portfolio has left three groups still in the running – Vienna listed peer conwert and Germany’s Patrizia, plus a south German communal housing consortium. The firm price means the vendor is committed and that closing should take place early in second quarter, writes PIE Managing Editor Allan Saunderson in a blog.

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