BEN WILMOT - THE AUSTRALIAN - 13 August 2015
German apartment owner BGP, which was spun off from the GPT Group during the depths of global financial crisis, will assess both a trade sale and a potential float, after exclusive talks to sell its €1.1 billion ($1.66bn) portfolio to Austrian company Conwert Immobilien Invest ended.read more
Conwert Immobilien Invest SE - 6 August 2015
The Administrative Board of conwert Immobilien Invest SE (“conwert”) today passed a resolution to end talks with BGP Holdings Europe S.à.r.l. with respect to the potential acquisition of the German residential property assets and platform of BGP Investment S.à.r.l., a subsidiary of BGP Holdings Europe S.à.r.l. After several weeks of detailed discussions, the Administrative Board of conwert has decided that the acquisition strategically currently would not be in the best interest of conwert and its shareholders.
BEN WILMOT - THE AUSTRALIAN - 23 July 2015
GPT Group is edging closer to finally exiting its disastrous foray into global property as the company it spun off in the depths of the global financial crisis, German apartment owner BGP, has entered exclusive talks to sell its €1.1 billion ($1.62bn) portfolio to Austrian property company Conwert Immobilien Invest.read more
22 July 2015
Conwert Immobilien Invest SE announced in an ad-hoc disclosure that it is currently in exclusive negotiations with BGP Holdings Europe S.à.r.l. regarding a potential contract for the acquisition of the German residential properties of BGP Investment S.à.r.l., which are currently managed by BGP Asset Management.read more
We would like to make the following statement on this matter:
As explained on multiple occasions BGP is examining a dual track-exit. This entails the possibility of a global sale of the German residential real estate portfolio including the operational management company, as well as the option of going public. BGP is currently in exclusive negotiations with Conwert Immobilien Invest SE, but at this point no agreement has been reached on a possible acquisition. BGP will continue to consider an initial public offering.
Please note that we cannot comment further on ongoing negotiations.
27 March 2015
Concarus Real Estate Invest, a company in the May & Porth group, has acquired a shopping centre in Kelheim near Regensburg, Lower Bavaria. Luxembourg‐based BGP Investment, advised by Internos Global Investors, was the seller. The retail park on Schäfflerstrasse has a rental area of 19,000 sqm plus 600 parking spaces. The largest tenants are Edeka, Hagebaumarkt, C&A, Norma, and Deichmann. Concarus said it would continue the current revitalization of the centre. BGP is currently selling its Germany retail portfolio in order to focus on its core business of residential real estate.
26 January 2015
ADLER Real Estate AG, Frankfurt am Main, Ger-many has successfully completed the acquisition of a portfolio located in Lower Saxony comprising c. 6,750 residential units in Wilhelmshaven, a transaction that was notarised in Q4 2014.read more
23 December 2014
BGP Investment has completed a €160 million refinancing of its Bundaberg German Residential portfolio with Berlin Hyp. The 7 year loan completes the overall refinancing of BGP's Resi assets which commenced in 2013 with the launch of the Monnet Finance CMBS issue.read more
Mark Dunstan, CEO of BGP Investment, commented: «The timing of the new loan has allowed BGP to lock in historically low rates and to significantly push out its debt maturity profile while maintaining conservative gearing levels.»
The Bundaberg portfolio consists of just over 4,000 units largely in the Berlin, Schleswig Holstein and North Rhine-Westphalia regions of Germany.