Freshfields Counsels Cerberus In German Apartment Co. Buy

Law360, New York (May 16, 2012, 12:53 PM EDT) -- Cerberus Capital Management LP has purchased the assets of a financially distressed German apartment owner out of receivership and restructured nearly $1.3 billion in debt for the company, the private fund giant said Wednesday.

The New York-based funding firm said it had acquired the assets of Speymill Deutsche Immobilien Co. PLC, which owns more than 26,000 apartment units in 15 of Germany's largest cities.

As part of the deal, Cerberus worked with the company's bank lenders to recapitalize its assets by restructuring roughly $1.25 billion in...
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