BGP – The Company And Its Mission

BGP is a European Real Estate investment company with around €1.2 billion in assets in Germany. From its beginnings in 2005 as a joint venture between Australian companies Babcock & Brown and the GPT Group. BGP was restructured in 2009 as an independent company with over 58,000 shareholders. In November 2016, the company was sold to investors advised by Morgan Stanley.

For further information for investors in BGP Holdings PLC, please go to bgp-holdings.com

PORTFOLIO

NEWS

  • The sale of BGP investment, it's assets and subsidiaries closed in November.


    Audited closing accounts are being prepared and should be completed in February. Net proceeds are likely to attain nearly EUR 600 million, from which around EUR 10 million in transaction costs and taxes need to be deducted. In addition, some EUR 20 million will be held back for up to two years to give substance to warranty and indemnity insurance and legacy tax representations. BGP expects to distribute an interim dividend of around EUR 400 million around year end, with a further EUR 150 million in the first half of 2017. Our timetable is governed by the need to execute a capital reduction to release the second distribution, a process which will also require a general meeting of shareholders in the New Year.

  • Windfall for BGP investors as Morgan Stanley swoops

    BEN WILMOT - THE AUSTRALIAN - 21 October 2016

    Morgan Stanley Real Estate Investing has swooped on German apartment owner BGP, which was spun off from the GPT Group in the depths of global financial crisis, with the €1.177 billion ($1.68bn) deal to see nearly 60,000 Australian investors receive a payout this year.

    The deal follows a dramatic turnaround in the fortunes of the venture that began with negative equity of about €600 million seven years ago, and will also be a fillip for major shareholders Stockland and GPT, as well as a series of hedge funds.

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  • BGP sells European property portfolio for over €1.1 billion including net debt

    BGP Investment Press Release - 20 October 2016

    Proceeds for distribution expected to be nearly €600 million after deduction of net debt and transaction expenses.
    BGP Holdings PLC (BGP Holdings) today announced the sale of 100 percent of the business and assets of BGP Investment S.à r.l. to purchasing vehicles advised by Morgan Stanley Real Estate Investing at an enterprise value including net debt of over €1.1 billion.

    After the fulfilment of customary conditions precedent and the sale completion, funds available for distribution after deduction of net debt and transaction expenses are expected to be close to €600 million (A$870 million). The final proceeds will be determined on the basis of closing accounts.

    BGP Holdings owns 16,000 residential units in Berlin, Kiel, Rendsburg and Cologne, and has approximately 58,000 retail investors following an in-specie distribution to shareholders in the GPT Group in 2009.

    Rod McGeoch, Chair of BGP Holdings said: “The sale of the portfolio is a highly commendable outcome given the starting point in 2009 of a company with no value and negative equity to now being able to realise nearly €600 million on behalf of our patient shareholders.”

    Read the full press release : Download
  • German apartment owner BGP mulls trade sale or IPO

    BEN WILMOT - THE AUSTRALIAN - 13 August 2015

    German apartment owner BGP, which was spun off from the GPT Group during the depths of global financial crisis, will assess both a trade sale and a potential float, after exclusive talks to sell its €1.1 billion ($1.66bn) portfolio to Austrian company ­Conwert ­Immobilien Invest ended.

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  • Conwert ends talks to acquire BGP portfolio

    Conwert Immobilien Invest SE - 6 August 2015

    The Administrative Board of conwert Immobilien Invest SE (“conwert”) today passed a resolution to end talks with BGP Holdings Europe S.à.r.l. with respect to the potential acquisition of the German residential property assets and platform of BGP Investment S.à.r.l., a subsidiary of BGP Holdings Europe S.à.r.l. After several weeks of detailed discussions, the Administrative Board of conwert has decided that the acquisition strategically currently would not be in the best interest of conwert and its shareholders.

    Read the press release in english: Download
    Read the press release in german: Download