Deutsche Bank, LBO France Sell $1.3B French RE Portfolio

Law360, New York (June 27, 2013, 3:03 PM EDT) -- Units of Deutsche Bank AG and LBO France sent a bundle of French residential real estate valued around €1 billion ($1.3 billion) to TwentyTwo Real Estate, providing the fledgling investment firm solid footing as it kicks off an expansion push across European markets, it said Thursday.

TwentyTwo, founded last year by onetime Perella Weinberg Partners LP partner Daniel Rigny, grabbed the recently refinanced Financiere SELEC portfolio in its first-ever transaction. The holdings include roughly 7,600 homes — primarily single-family units —spread across France and leased to...
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