The German state of Hesse is putting the Leo III property portfolio back on the market, Minister of Finance Karlheinz Weimar (CDU) told newspaper Financial Times Deutschland (FTD). Weimar said that the sale process has been resumed and that a deal is expected by the end of 2008. The German state aims to fetch about EUR 400mln for the portfolio, which consists of 35 public buildings. According to the FTD, the assets generate a net rent of about EUR 25mln. HSH Real Estate and Atisreal have been appointed to market the portfolio.
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