PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Hamburg's TAG in share-only buy of Franconofurt units
Hamburg-based listed property group TAG Immobilien has acquired, using its own shares, 97% of the equity of FranconoWest and 100% of its sister firm FranconoAdvisory from the listed Franconofurt residential real estate group. Total consideration was E31.3m. TAG will make a capital increase against contribution in kind, issuing around 5.58m new shares and thus giving Franconofurt around 14% of TAG. Net annual rent of the new portfolio is around e8m, giving a total market value of some e104m. (See upcoming PIE Editions for full story)