Pirelli RE, RREEF buy Baubecon portfolio for EUR 1.7 bn

By A staff reporter 2007-07-17T00:00:00

Pirelli RE and Deutsche Bank's property unit RREEF have agreed to acquire Baubecon’s residential portfolio in Germany for about EUR 1.7 bn. The property portfolio is being sold by US private equity group Cerberus, which bought it for EUR 1 bn in 2005. RREEF is acquiring a 60% stake while ...

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