Deutsche Annington close to inking Vitus deal - report

Deutsche Annington Immobilien is close to reaching an agreement to acquire Vitus Immobilien, according to a news report by agency Bloomberg.

Vitus, a German residential landlord owned partly by US private equity giant Blackstone Group, owns around 30,000 apartments in Germany worth some €1.3 bn.

In October, shareholder Round Hill Capital was rumoured to be looking into a sale of Vitus through a share deal with a company listed on the stock exchange. Round Hill and a consortium of investors had acquired Vitus in 2007 for around €1.6 bn. Blackstone, the seller, retained a minority share.

The deal could potentially become one of the largest real estate transactions in Germany this year.