Patrizia Group to Buy LBBW’s Real Estate Unit $1.8 Billion

Patrizia Group to Buy LBBW’s Real Estate Unit $1.8 Billion

Hannelore Foerster/Bloomberg

LBBW is selling its real estate unit after a 5 billion-euro bailout by the company’s owners, which include the state of Baden-Wuerttemberg and regional savings banks, during the financial crisis.