Abu Dhabi Investment Authority (Adia) has sold a stake in German residential firm Deutsche Annington.
The sovereign wealth fund reportedly took a €725m profit from the sale of a 6.6% stake.
Deutsche Annington, Germany’s biggest listed investor in the residential sector, said it has yet to receive official notification of the sale.
It is, therefore, unclear whether the sale results in a complete withdrawal by ADIA.
However, in March this year, and following a capital increase by Deutsche Annington, ADIA had a 9.49% stake.
If the reported 6.6% stake is correct, then the sovereign wealth fund retains a small interest in the firm.
The fund was last year compelled to reveal it had a then 13.4% stake under German disclosure rules.
ADIA previously backed the €2.1bn Terra Firma Deutsche Annington fund, launched in 2006.
As previously reported, Deutsche Annington’s offer for listed German residential investor GAGFAH is underway.
The combination will create a company with a €21bn portfolio of around 350,000 residential units.
Once merged, the new entity will be Continental Europe’s second-largest listed real estate company.
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