trending Market Intelligence /marketintelligence/en/news-insights/trending/KqxpWiVm3cPWGUFyOoIasg2 content esgSubNav
In This List

Grainger agrees to sell majority of remaining German resi assets

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model

Video

How to use ESG Heat Maps in Credit Risk Analysis


Grainger agrees to sell majority of remaining German resi assets

agreed to offloadthe majority of its remaining residential properties in Germany to for a grossconsideration of approximately €53 million.

Theportfolio consists of around 1,100 units located in the North Rhine-Westphaliaregion, according to an April 13 filing.

Thedivestment is in line with the U.K.-based company's strategy of exiting Germanyto focus on investment in the private rented sector back home, where itplans to invest morethan £850 million by 2020.

Followingthe deal with LEG Immobilien, expected to close in the coming months subject toregulatory approval, the company will have less than €11 million of remainingassets in Germany. More than half of the remaining assets are also under offerfor sale, according to the company.

Thecompany said it has offloaded a majority of its German business interests for atotal gross consideration of around €225 million during the financial year.It added that it expects "a modest profit" from the divestments.

InNovember 2015, the company agreedto exit a German joint venture with Heitman and sell it to a "large"German investor for approximately €136 million.