Clearwater International acted as sole financial adviser to the City of Wiesbaden which has acquired a portfolio of 2,800 residential properties through its real estate company GWW. The properties are located in the urban area of Wiesbaden – Amöneburg, Kostheim and Kastel (“AKK”) – and were purchased from Wohnbau Mainz GmbH, a municipal company of the City of Mainz.
The purchase price of €150m is an essential part of the necessary financial restructuring of Wohnbau Mainz GmbH, with a balance sheet volume of approximately €1bn. Through this transaction the City of Wiesbaden ensures that the AKK properties remain under municipal control.
Clearwater International, led by partners Dierk Rottmann and Markus Otto, advised the City of Wiesbaden