German residential developer Instone Real Estate Group AG agreed to acquire the northern Bavaria residential property development activities pooled in S&P Stadtbau from Sontowski & Partner Group.
Through the acquisition, Instone will strengthen its platform by adding 20 experienced professionals and six existing project developments. Two of these projects will be mixed-use urban quarter developments, where Instone will develop the residential sections, while Sontowski & Partner Group will be responsible for the commercial parts.
The transaction is expected to close Aug. 31.
VICTORIAPARTNERS acted as financial advisers to Sontowski & Partner Group.
