Munich, Germany (14 May 2020)
Valuation Research Group (VRG), a leading global provider of independent valuation, advisory and value-related services is pleased to announce that VRG’s Germany-based member firm, ValueTrust acted as an independent valuation expert provider to ISARIA Wohnbau AG on its key real estate projects and associated platform to Deutsche Wohnen SE.
On 25 March 2020, ISARIA Wohnbau AG, a Munich-based project developer, announced that it has reached an agreement with Deutsche Wohnen SE on the sale of its key real estate projects and the associated platform. The deal, which is set to be completed in the course of 2020, has recently been approved by ISARIA‘s Annual General Meeting on May 12, 2020.
ValueTrust was engaged by the Executive and Supervisory Board of ISARIA as Independent Valuation Expert to provide a fairness opinion on the fairness of the consideration offered by Deutsche Wohnen from a financial point of view. The fairness opinion included an opinion letter according to DVFA Standards.
ISARIA is one of the leading project developers for residential construction in Munich. The range of projects it has completed includes multi-story apartment blocks, district developments and the regeneration of buildings previously used for commercial purposes. The company has 20 years of experience along the entire project development value chain, including proven skills in obtaining construction rights. Based on its strong market position in the Munich urban area, ISARIA has successively expanded its activities in recent years to new regions with projects in the greater Munich area as well as in Hamburg, Stuttgart and Frankfurt.
Valuation Research Group (VRG) is a global valuation practice that furnishes expert and independent opinions of value for solvency, fairness, business enterprises, intangible assets, capital stock, equity interests, real estate and fixed assets. VRG has a network of over 1,300 professionals located in offices throughout continental Europe and the United Kingdom, Brazil, China, India, Mexico, Canada, Argentina, Australia, and the United States. The Germany-based practice operates as ValueTrust.