Westgrund Aktiengesellschaft (DB:WEG1) agreed to acquire portfolio of 2,781 residential units in Lower Saxony, Thuringia and Schleswig-Holstein on December 31, 2014. The purchase was carried out outside of a structured bidding process. The portfolio had an annual net cold rent of approximately €9 million in 2013. Closing of the deal is expected during the first half of 2015. Josef Hofschroer, Christian Schede, Martin Hamer, Silke Köhler, Alexandra Parascho and Jan Paul Zimmermann of Olswang Germany LLP acted as legal advisors to Westgrund Aktiengesellschaft.

Westgrund Aktiengesellschaft (DB:WEG1) completed the acquisition of portfolio of 2,781 residential units in Lower Saxony, Thuringia and Schleswig-Holstein in August, 2015.