KKR’s German Real Estate Fund JV Sold In $253M Deal

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Law360 (June 5, 2019, 5:21 PM EDT) — Germany property company DIC Asset AG has said it will pay €225 million ($252.6 million) to take over property investment and asset management firm GEG Group from KKR & Co. and German real estate investment firm TTL Real Estate.

White & Case LLP-led DIC said Friday the deal for GEG German Estate Group AG will add an investor in commercial real estate that employs a variety of investment structures and boasts more than €3.6 billion in assets under management. GEG focuses primarily on profitable landmark properties throughout Germany and currently controls Munich’s Sapporobogen and the Garden Tower and Villa Kennedy in…

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