DaimlerChrysler AG has sold a real estate portfolio to ICADE S.A.
DaimlerChrysler AG has sold a real estate portfolio to the French company ICADE for over US$380 million.
The portfolio included 160,610m² of buildings with 60,000m² of vacant surface area and 130 hectares of land.
ICADE is a leading French full-service property developer active in the housing, services, healthcare and public sector markets. ICADE's businesses cover the entire property development value chain: design and development, land investment, holding, trading, promotion, operations and management. By skillfully executing these different services, ICADE offers its customers tailored solutions to specific needs.
DaimlerChrysler AG develops, manufactures, distributes and sells a range of automotive products, mainly passenger cars, trucks, vans and buses. It also provides financial and other services related to its automotive businesses. Over the years, the company has invested in many real estate activities, some of them are now considered a non-core asset.
Oaklins' team in Germany advised the seller in this transaction. The team organized an international bidding process with some ten potential buyers. Some bidders were only interested in individual objects or parts of the portfolio, but not in the whole package. Since DaimlerChrysler preferred to close the transaction with only one investor, ICADE presented the highest bid of US$380 million for the entire portfolio. Total book value was approximately US$250 million, meaning that DaimlerChrysler realized hidden reserves of over US$130 million.
Talk to the deal team
Related deals
Omer Engineering has completed an IPO
Omer Engineering Ltd. has successfully launched its IPO on the Tel Aviv Stock Exchange, pricing shares as part of a plan to raise approximately US$94 million at an implied pre-money valuation of around US$313 million. The offering included both newly issued shares and a secondary sale by existing shareholders, who retained a significant majority stake post-IPO. This transaction underscores strong investor interest in scaling the company’s operations and enhancing its capital.
Learn moreTriscan has joined APA and Riverarch to accelerate growth in the European aftermarket
Triscan AS, a leading provider of OE-quality automotive spare parts for the professional aftermarket in Europe, has been acquired by APA Industries, LLC, a portfolio company of Riverarch Equity Partners.
Learn moreBianchessi Auto has been acquired by Autotorino
Bianchessi Auto S.r.l. has been acquired by Autotorino S.p.A. through the purchase of 100% of the company’s shares. The transaction strengthens Autotorino’s presence in the heart of Lombardy, Italy, with four new locations in Cremona and Castelverde joining the group through the integration of the Bianchessi dealerships.
Learn more