BERLIN-A political resentment is spreading against private-equity investors who acquired German residential housing companies. Gagfah SA, managed by Fortress Investment Group, has said that the city of Dresden might file a lawsuit against the company.
The city claims that the company had violated a social charter agreement and that it failed to offer apartments for sale at first to existing tenants before handing them to third parties. Gagfah attained 45,000 apartments when it purchased Wohnungsbaugesellschaft Dresden or Woba for EUR 1.7 billion ($2.4 billion).For the full story, go to Wall Street Journal.
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