ADIA fully exits German RE company Annington for €725m

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decorative-villa-1367115-mThe Abu Dhabi Investment Authority has reportedly sold its remaining 6.6 per cent stake in Germany’s largest private-sector residential real estate company Deutsche Annington.

The sovereign wealth giant exited the company by selling its 23.5 million shares for €725m.

ADIA first invested in the company 10 months ago, said PERE which first reported the news.

Deutsche Annington’s other backers have included UK private equity firm Terra Firma which was last year planning to transfer its shares to its fund LPs after selling a 12.5 per cent stake with co-investor Citigroup Property Investors.

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