LEG to Expand Property Portfolio After Selling Shares to Public

LEG Immobilien AG, the German apartment landlord planning an initial public offering next month, will increase its portfolio by more than 10 percent in the years ahead, Chief Executive Officer Thomas Hegel said.

LEG owns 91,000 apartments in North Rhine-Westphalia, Germany’s most populous state, and plans to add as many as 10,000, Hegel said at a press conference today. The Dusseldorf-based company is controlled by Goldman Sachs Group Inc.