Building Site

WFW advises Deutsche Annington on the sale of 9,600 residential units to a subsidiary of LEG Immobilien AG and on the integration of various companies of the Vitus portfolio

11 October 2014


Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised Deutsche Annington Immobilien SE (“Deutsche Annington”) on all employment law matters regarding the resale of 9,600 residential units from the former Vitus portfolio to a subsidiary of LEG Immobilien AG (“LEG”).

On October 9, Deutsche Annington signed an agreement with LEG regarding the sale of approximately 9,600 residential units. The sale comprised a sub-portfolio of the former Vitus portfolio, containing its real estate assets in North Rhine-Westphalia. WFW provided Deutsche Annington with comprehensive advice on all employment law matters relating to the transaction.

In addition, on October 1 Deutsche Annington completed the acquisition of various companies of the former Vitus Group, encompassing more than 30,000 residential units worth €1.4 billion. Reconciliation of interests as well as social compensation plans are currently being negotiated with different works councils in a number of locations in order to conclude the integration of these companies into Deutsche Annington Group. WFW is also advising Deutsche Annington on employment law related negotiations in relation to this acquisition.

Deutsche Annington, managing 185,000 residential units and with more than 3,250 employees, is the largest private-sector residential real estate company in Germany. With more than 95,000 residential units under management, LEG is one of the biggest real estate companies in North Rhine-Westphalia.

WFW’s team was led by partner Dr. Nikolaus Krienke (Employment, Hamburg/Munich). He was supported by associates Dr. Andreas Wiegreffe, Dr. Frederik Martell and Dr. Feyzan Ünsal in Hamburg.

Dr. Nikolaus Krienke comments: “We are delighted to have once again advised Deutsche Annington in close and trusted cooperation on further complex employment law projects.“