German listed company Aroundtown Property is to acquire most of Apollo Global Management's office portfolio in Germany for €1.2 bn, EuroProperty has revealed.
The transaction would be the latest in a string of jumbo investment deals in Germany in the last 12 months, as owners tap into demand from investors for assets in what they see as Europe’s safest haven.
Apollo put the portfolio up for sale earlier this year and has contracted to sell to Aroundtown in an off-market deal.
Apollo’s German office holdings were quietly assembled over the past few years, at least twice by accessing distressed debt structures.
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The full story appears in the latest weekly edition of EuroProperty, part of the PropertyEU Group.
