WHAT IS AN ASSET DEAL?
In an asset deal, the investor buys the property itself. The new owner is entered in the land register and real estate transfer tax (Grunderwerbsteuer) is payable. It is the usual structure for selling apartment buildings and commercial property in Germany.
EXAMPLE.
In Frankfurt am Main, around €4.0 billion of commercial investment volume in 2025 was transacted as asset deals and around €1.5 billion as share deals. Source: AENGEVELT City Reports 2026/2027.
WHY IT MATTERS.
In an asset deal, only the property and its leases transfer, not the risks of a company. This keeps the transaction clear. Buyers and sellers should decide on the right structure early with their tax and legal advisers.
RELATED TERMS.
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German version: Asset Deal.
As of November 2026, AENGEVELT Research.