Cerberus Pays EU900 Million for Apartments, FTD Says

Cerberus Capital Management LP is to pay as much as 900 million euros ($1.18 billion) for 22,000 apartments in Germany formerly owned by the insolvent Speymill Deutsche Immobilien Plc., Financial Times Deutschland reported, without saying where it got the information.

Germany’s Federal Cartel Authority last week approved the takeover by Cerberus, a New York-based private-equity firm, together with real estate management company Corpus Sireo, the German newspaper said.

Goldman Sachs Group Inc.’s Whitehall unit as well as Blackstone Group LP and Morgan Stanley were also interested in the apartments, FTD said.

(Corrects name of company from which apartments are being purchased in first paragraph.)
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