The State of Berlin has announced it will put its real estate company, Berliner Immobilien Holding (BIH), on the market despite the global liquidity crisis and challenging economic conditions. BIH owns a portfolio consisting of 39,000 apartments and 3,000 commercial units for a market value of EUR 4-5 bn. The public authority has hired UBS Deutschland on an exclusive basis to conduct the sale process.
The State of Berlin has announced it will put its real estate company, Berliner Immobilien Holding (BIH), on the market despite the global liquidity crisis and challenging economic conditions. BIH owns a portfolio consisting of 39,000 apartments and 3,000 commercial units for a market value of EUR 4-5 bn. The public authority has hired UBS Deutschland on an exclusive basis to conduct the sale process.
Interested parties can launch a non binding offer for the state-owned company until 16 January. The State hopes to close the sale by spring 2009.
