Grainger is selling off its wholly owned German residential assets in an effort to focus on the UK market. Grainger owns 3,000 units in Germany and an additional 3,000 in a joint venture with Heitman. Grainger says it wants to increase its strategic and financial focus on its UK residential activities, while taking advantage of the strong German residential property market.
“In addition to the excellent trading performance over the period, we continue to simplify the group’s operations and accelerate the growth of our business,” said Andrew Cunningham, Grainger’s chief executive. “Today we can announce that, to increase our focus on the UK market, we have appointed investment bank, Lazard, to advise on the disposal of our wholly owned residential property assets in Germany.”
