• M&A

GAGFAH Disposal of Social Real Estate Portfolio

The Company

GAGFAH S.A. is one of the largest real estate companies in Germany with more than 140,000 residential units and approx. 35,000 flats managed for third parties. The company was founded in 1918 as a non-profit public limited company and was acquired by Fortress in 2004 for approximately EUR 3.5 billion.

The Transaction

In addition to the residential units, GAGFAH also owned a heterogeneous portfolio of five properties for elderly people in Dortmund, Hamm, Buxtehude and Meißen as well as Hannover. As part of a structured sales process with the support of ARGONAS, the first four properties were sold to an institutional investor and the property in Hanover to a private investor. The portfolio sold comprised a total of 365 nursing places, 261 units for assisted living and 111 flats for elderly people. Both sales took place as part of an asset deal.

Scope of Mandate

ARGONAS has fully advised and supported the company as exclusive sell-side advisor in all aspects of the preparation and implementation of the process.