Westfonds, the real estate arm of German bank WestLB, is considering selling 29 closed-end real estate funds, according to a report in the Manager-Magazins. The funds own a total of 46 real estate assets. Westfonds said that a final decision has yet to be made, and it is not clear whether the shareholders will agree with the disposal. Westfonds' managing director Achim Quambush told the magazine that he expects the proceeds from the possible sale to amount to EUR 1.5 bn.
Westfonds, the real estate arm of German bank WestLB, is considering selling 29 closed-end real estate funds, according to a report in the Manager-Magazins. The funds own a total of 46 real estate assets. Westfonds said that a final decision has yet to be made, and it is not clear whether the shareholders will agree with the disposal. Westfonds' managing director Achim Quambush told the magazine that he expects the proceeds from the possible sale to amount to EUR 1.5 bn.
