Excluding debt, the Ministry will receive proceeds of €594m in 2013.
“Finance Minister Wolfgang Schaeuble has awarded the contract for the biggest property transaction in Germany this year,” said the Ministry. ‘The buyer wants to continue the business and strategically to develop its portfolio”
It added, “From the government’s perspective, the current market situation was ideal for the sale of the TLG Group.”
TLG’s operations include the development of existing properties, acquisitions of high-yield real estate, and strategic sales of from its portfolio. The company has branches in Berlin and Dresden and is focused on the fast-growing regions of the Baltic Sea coast, the Berlin metropolitan region with Potsdam and the core area of Central Germany.
In 2011 it recorded revenues of €236.8m.
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