Goldman, Perry Place 7 Million LEG Immobilien Shares
Goldman Sachs (GS) and investor Perry Luxco have placed an additional seven million LEG Immobilien AG (LEG.XE) shares with institutional investors, Goldman said Tuesday.
Investors paid 289 million euros ($395.4 million) for the 13.2% stake at EUR41.25 per LEG share. In February, the two investors conducted an initial public offering and sold 57.5% of LEG at EUR44 per share--the largest real estate IPO since May 2007.
The sale is the latest in a string of real estate transactions, with investors taking advantage of strong market demand. In July, Terra Firma floated a stake in Deutsche Annington Immobilien SE (ANN.XE), the country's largest housing company with 179,000 units. LEG ranks third with more than 90,000 units.
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