LEG sells around 2,000 apartments to Proprium and Forte

The housing company LEG Immobilien AG sold 1,952 apartments in Marl in late September. The buyers are a fund managed by Proprium Capital Partners and the German Forte Group. 

In spring 2016, LEG acquired a portfolio of around 13,500 apartments from Vonovia SE as part of its growth strategy. This included approximately 2,000 residential units in Marl. As part of its portfolio strategy, LEG has now sold some of these holdings. The parties agreed not to disclose the purchase price.

LEG has already informed all of the affected tenants about the transaction. They will be otherwise unaffected, as the buyers will take over all of the existing commitments such as rental agreements. Local management will be performed by the real estate service provider WVB Centuria GmbH and its Gelsenkirchen branch in future.

Following the sale, LEG still manages 791 apartments in Marl.

Your contact for LEG

Britta Maria Schell

Head of Corporate Communications, tel. +49 (0) 2 11 / 45 68-325

Your contact for Forte and Proprium

Tom Zeller

Managing Partner, Feldhoff & Cie. GmbH, tel. +49 (0) 69 / 2648 677-15, mobile: +49 (0) 176 / 10 43 00 63, e-mail: tz[at]­feldhoff-cie.de

About LEG

With around 130,000 rental properties and approximately 350,000 residents, LEG is one of Germany’s leading listed housing companies. The company has eight branch offices in North Rhine-Westphalia, providing personal local contact. LEG generated rental and lease income of around EUR 645 million in the 2015 financial year.

About Forte

Forte is a Germany-wide housing company with an investment portfolio currently comprising more than 4,500 apartments. The apartments are managed from the locations of Berlin, Frankfurt/Main, Gelsenkirchen and Halle (Saale). The Forte Group holds the property portfolios along with institutional investors and high-net-worth individuals and their family offices.

About Proprium

Proprium Capital Partners is a private real estate investment company that manages funds with a capital volume of USD 2 billion for private and institutional investors. Its more than 50 investors include public and private pension funds, banks, family offices and sovereign wealth funds.

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