Apollo (NYSE: APO) announced that it has entered into agreements for Apollo-managed insurance affiliates, funds, and other long-term investors to invest €1 billion into an entity owning a portfolio of high-quality real estate assets in Northern Germany controlled by Vonovia (FRA: VNA), a leading global residential real estate company with assets of approximately US$100 billion. The portfolio includes approximately 31,000 high-occupancy units valued by Vonovia at €3.8 billion.
The commitment follows a €1 billion investment by Apollo funds in a Vonovia portfolio in Southwest Germany earlier this year.
Latham & Watkins LLP represented Apollo in the transaction with a private equity real estate deal team led by Frankfurt partners Otto von Gruben and Carsten Loll, with New York partner and Global Co-Chair of the Real Estate Practice Michael Haas and New York partner Gary Boss, with Frankfurt counsel Sven Nickel, Hamburg counsel Hendrik Hauke, and associates Dominik Waldvogel, Henriette Hosemann, Jana Maué, Sebastian von Hornung, Marie-Christine Welp, Katharina Wolf, and Edward Martin. Advice on finance matters was provided by Frankfurt partner Torsten Volkholz, with Munich associate Julia Bräuer; on antitrust matters by Frankfurt partner Max Hauser, with associate Helena Hofmann; on tax matters by Hamburg partners Tobias Klass and Verena Seevers and New York partner Bora Bozkurt and on employment matters by Munich partner Tobias Leder with associate Martina Hölzer.