Business · Companies · 6 hrs ago
Grand City Properties takes 20.04% stake in LEG Immobilien
Grand City Properties bought a 20.04% stake in LEG Immobilien, a housing company based in Düsseldorf, Germany.
The investment makes Grand City the biggest shareholder in LEG, subject to approval by Germany’s competition authority.
The shareholding is worth more than €700 million at current calculations.
Grand City says the stake is a financial investment and describes it as more attractive than buying additional properties.
It could raise its holding to 29.9%, but it may also reduce the stake or sell it entirely.
LEG’s housing portfolio is concentrated in the western German state of North Rhine-Westphalia.
The next step is competition approval, while Grand City decides whether to change its stake.
Grand City Properties has acquired a 20.04% stake in LEG Immobilien, making it LEG’s largest shareholder, subject to approval by Germany’s competition authority.
The Luxembourg-based residential property investor said it bought the shares from companies in the financial sector.
The stake has a calculated value of more than €700 million.
Grand City said it views the stake as a financial investment and could increase it to 29.9%, reduce it or exit entirely.
Chief Executive Refael Zamir described the investment as an opportunity to invest in a company with a high-quality portfolio and stable dividend policy.
- Who
- Grand City Properties acquired the stake in LEG Immobilien.
- What
- It now holds 20.04% of LEG’s shares and is set to become its largest shareholder, subject to approval by Germany’s competition authority.
- When
- Grand City announced the acquisition on Tuesday evening. The article was published on October 20, 2026.
- Where
- LEG Immobilien is based in Düsseldorf, Germany. Grand City Properties is based in Luxembourg and managed from Berlin.
- Why
- Grand City said the stake was a more attractive investment than buying additional properties, based on its share of rental-business earnings.
This story does not have two clearly opposing sides.
Grand City Properties had not previously appeared as a LEG Immobilien shareholder.
Grand City Properties announced that it held 20.04% of LEG Immobilien.
- Stake
- 20.04% of LEG Immobilien
- Potential maximum stake
- 29.9%
- Calculated stake value
- More than €700 million
- LEG headquarters
- Düsseldorf
- Announcement
- Tuesday evening, October 20, 2026
What people are saying
A unique opportunity to invest in a company with a high-quality portfolio and a stable dividend policy