Consus has solidified its position as the largest residential property developer in Germany with the acquisition of SSN Group (SSN) financed through a combination of cash and equity. The transaction will increase the company’s portfolio to €9.6bn gross development value (GDV), 82% of which is expected to be forward sold. We believe that this transaction constitutes an important step in building a strong, well-diversified portfolio and should lead to favourable synergies given the high business profile overlap between Consus and SSN.
