BERLIN - August 5, 2024 - Global law firm Greenberg Traurig Germany, LLP has advised HOWOGE Wohnungsbaugesellschaft mbH (HOWOGE) on the acquisition of ATOZ Facility Solutions GmbH (ATOZ). The parties have agreed not to disclose the purchase price.
With the acquisition of the property management service provider and its approximately 170 employees, HOWOGE continues its in-house strategy. HOWOGE is taking over ATOZ to carry out the facility management, including cleaning, caretaker services, green space maintenance and general maintenance, for around 25,000 flats under its own management. HOWOGE is one of six municipal housing companies in the state of Berlin. With its housing stock of around 76,400 flats (as of 31 December 2023), the company is one of the largest landlords in Germany.
Greenberg Traurig advised HOWOGE comprehensively on all aspects of the transaction. In particular, the legal team conducted the legal due diligence, assisted in the negotiation of the purchase agreements and prepared the contractual documentation.
Background:
The Greenberg Traurig Germany team regularly advises HOWOGE on transactions and project developments as well as on broadband supply issues for many years. Most recently, the lawyers advised HOWOGE on the purchase of around 4,500 flats and a 40-hectare potential site from Vonovia for a total of 700 million euros.