Real Estate: Deutsche Finance sues BVK: Who is to blame for the US investment disaster?
After high losses in the US, Deutsche Finance, which is part of the Bayerische Versorgungskammer, feels it is being unfairly blamed. A lawsuit reveals details. The BVK rejects the accusations.
The German finance company Deutsche Finance is suing the Bavarian Public Pension Fund (BVK) for damages over a failed US real estate investment strategy. The two parties had jointly invested in seven US properties, including the Transamerica Pyramid in San Francisco, which was purchased for $650 million in 2020. Deutsche Finance claims that BVK was the de facto decision-maker behind the investments, despite presenting itself as a passive investor, and that it misled the public and authorities about its role.
The lawsuit seeks compensation for lost revenue, reputational damage, and lost business opportunities, with potential losses for BVK estimated at up to €850 million.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
