Deals
GSW May Buy 6,000 Homes by End of 2012, Boersen-Zeitung Says
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GSW Immobilien AG, the German real-estate company that first sold shares to the public in April, may buy as many as 6,000 new homes by the end of next year, Boersen-Zeitung reported, citing Chief Executive Officer Thomas Zinnoecker.
The Berlin-based residential landlord could spend as much as 400 million euros ($578 million) on acquisitions, including 115 million euros of gross proceeds raised in the initial public offering, Zinnoecker told the German newspaper in an interview. Yesterday, GSW said first-half profit rose more than sixfold, boosted by the sale of a cable business.