Knut Unger knut.unger at
Wed Feb 27 01:51:28 GMT 2008

knut unger  knut.unger at,  (via Massimo)

> Dear friends,
> as you may remember tenants associations, trade unions, the social 
> democrats, greens and left in North-Rhine-Westphalia are struggling 
> against the sell out of the state owned housing company LEG (93.000 
> social housing units) to private investors.
> Meanwhile the bidding procedures have started and a number of 
> international financial investors are among the interested bidders. 
> (Thanks to the global financial crisis the number of real bidders is 
> smaller than expected a year before.)
> We do not know them all, but it is sure that WHITEHALL funds (controlled 
> by Goldman Sachs), BRACK CAPITAL REAL ESTATE (Israel based) and 
> BOUWFONDS (Netherlands based) are among them.
> Did you hear about these firms and how they deal with tenants?
> We could need such information in the currently hot debate.
> Before you google: We already have some information.
> Whitehall together with Cerberus bought municipal housing in Berlin, 
> with bad consequences and a fast exit.
> BRACK group is well known for condo conversions in the U.S. (Manhattan 
> well known old Tiffany head quarters) , there are some reports about 
> evictions (Miami) . BRACK even started investment in India. It already 
> bought a couple of hundreds housing units from LEG and even owns the LEG 
> office building.
> BOUWFONDS, internationally active in development and financial 
> investments,  is a corporation with a long non-profit tradition in the 
> NL , but since 2006 it a part of the real estate branch of RABO BANK.
> Among the bidders is even ANNINGTON (no. 1 of international landlords in 
> Germany) ,which is the housing branch of guy Hand’s London based private 
> equity fund TERRA FIRMA (well known for overtaking EMI) .
> The US based private equity fund FORTRESS (it’s German housing group now 
> is called GAGFAH) , the number 2 of the new international financial 
> investors in German housing stocks, was also bidding. But according to 
> our information they already left the game.
> If you have any info or ideas regarding BRACK, WHITEHALL, BOUWFONDS 
> please tell ne a.s.a.p.
> Thanks in advance
> Knut Unger  

knut.unger at

> Ruhr Tenants Forum
> _______________________________________________
> hic-wg-globalization - mailinglist of the HIC WG on globalization and privatisation of Habitat
> - served by JPBerlin
> Post emails to the list to:
> hic-wg-globalization at
> Web interface with archive of old postings:

More information about the Diggers350 mailing list