(To read more on the multifamily market, click here.)
FRANKFURT-Blackstone Real Estate Partners has sold its majoritystake in the Vitus Group. A group of institutional investorspurchased a majority of Blackstone's shares for $2.1 billion. NewYork City-based Blackstone will maintain a minority interest inVitus.
The Vitus Group is a German residential company with significantholdings in Bremen, Moenchengladbach, Kiel and Wupperta. The firmowns more than 31,000 apartment units.
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