Westgrund Aktiengesellschaft (DB:WEG1) signed an agreement to acquire a portfolio of about 13,300 flats in Lower Saxony, Brandenburg, Mecklenburg-Western, Pomerania and Saxony from Berlinovo Immobilien Gesellschaft mbH for approximately €390 million on July 9, 2014. The acquired portfolio has an annual net rent of approximately €37 million. The debt financing is provided by Barclays Bank. Financing for the acquisition has already been secured in its entirety. The necessary fundraising is to take the form of a capital increase with subscription rights, with the increase already fully guaranteed by a banking syndicate including Germany banks and investors. The resolutions required for the financing arrangement were approved by the company's annual general meeting on June 13, 2014. The capital increase will most likely go ahead in the fall of 2014 - following the approval of the prospectus by the Federal Supervisory Authority for Financial Services. The debt share of the financing arrangement for the portfolio acquisition has also been fully secured.

The supervisory board of Westgrund and the relevant committee of Berlinovo Immobilien approved the deal on July 9, 2014. Hermann Stapenhorst, Nadja Fleischmann, Stefan Meusel, Liza Nawabi, Anselm Dierkes, Jochen Reuter, Jan Philipp Wimmer, Franziska Krokutsch, Franziska Krokutsch, Jana Ria Bittner, Matthias Kuß, Beate Engin, Sebastian Schmitz, Joachim Natterer, Martin Bredol, Axel Dippmann, Alexander Schmitt and Jens Benninghofen of CMS Hasche Sigle acted as legal advisors and JLL acted as real estate advisor to Berlinovo Immobilien. Barclays acted as financial advisor and Olswang acted as legal advisor to Westgrund. Arbireo Capital acts as sole financial advisor for impending capital increase. Tender was organised by Jones Lang LaSalle. Heuking Kühn Lüer Wojtek acted as legal advisor for Westgrund Aktiengesellschaft. The banks were advised by Gleiss Lutz Hootz Hirsch, Wecken & Cie Rödl & Partner. Florian Rösch, Peter Schorling, Martin Hamer, Georg von Wallis, Christoph Enaux, Sara Berendsen, Martin Culinovic, Martin Dobias, Adrian Helfenstein, Oliver Markmann, Simon Pfefferle and Claudia Stremel of Greenberg Traurig Germany acted as legal advisor for the acquirer.

Westgrund Aktiengesellschaft (DB:WEG1) completed the acquisition of a portfolio of certain flats in Lower Saxony, Brandenburg, Mecklenburg-Western, Pomerania and Saxony from Berlinovo Immobilien Gesellschaft mbH in during the first quarter of 2015. The deal for the remaining portion of the portfolio was cancelled.