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Cheated for the bargain? Private equity fund raised in the court

the Sale of The Victorian City to the private equity fund Blackstone has put the minds of the boil among the 303 tenants. They fear rent increases, which follow

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Cheated for the bargain? Private equity fund raised in the court

the Sale of The Victorian City to the private equity fund Blackstone has put the minds of the boil among the 303 tenants. They fear rent increases, which follows in the wake of the renovations of the lejemålene, and at the same time, they are angry at Frederiksberg Boligfond.

the Tenants have, therefore, now the regatta Frederiksberg Boligfond, as they believe that their right of first refusal to the property has been passed over. It informs the tenants in a joint press release.

Beboerrepræsentant Morten Christensen-Hornehøj believe that it is important for residents to Frederiksberg Boligfond now is the regatta.

- We are very pleased that we have arrived there now. We hope that we in the trial is going to get implemented it, we have the right to. Namely, to acquire the property for the price, the deed from 1932 gives us the right to, he says to Ekstra Bladet.

Morten K. Christensen-Hornehøj lives with his wife and their daughter in three years. He works 32 hours per night at a hostel.

Since Frederiksberg Boligfond sold the property to private equity fund Blackstone, is a registered deed from 1932 appeared - and it can flip up and down on sales.

In the lap states that the municipality has the right of first refusal, if Frederiksberg Boligfond a day should desire to sell the properties. Choose the municipality not to buy the properties, it is the tenants who have the right of first refusal. Of skødets text, it appears that the properties to be sold for the same price, they were sold in 1932. Thus, a much more favorable price than the price Blackstone has bid in 2018.

Blackstone paid 537 million. for The south Jutland Town, and the tenants have, on the basis of lejelovens tilbudspligt got 10 weeks to become a cooperative. Here, they must match the Blackstones deals to be able to take over the property.

Beboerformand in The south Jutland Town, Søren Berg, said:

- It was an important and farsighted political decision to enshrine the right of first refusal in the deed to protect the bearings against boligspekulanter. The intention, the deed is written in, is the intention, as it must be read out from in the day – even though it is many years ago, says Søren Berg.

Beboerformand Søren Berg has had to ensure that the residents are insured before the trial. Right now there are 215 tenants in the application.

the Residents of The Victorian City, however, has not received an offer to use their skødebestemte the right of first refusal. Therefore initiates the bearings now a lawsuit, in which this right is required. In addition, the tenants, Frederiksberg Boligfond acknowledges that the offer which the tenants have been sent as part of the general tilbudspligt, is invalid.

the Bid is conditional on a anvisningsret, as Frederiksberg Municipality has negotiated with Frederiksberg Boligfond. This means that if the bearings were to form a cooperative and purchase the property at a discounted rate, they should at the same time indemnify the apartments to social instructions to Frederiksberg Municipality.

: When a property is sold, the bearing, according to the lejelovens §100). 1 offer to take over the property on a cooperative basis. The tenant must match the offer to sell from a possibly. buy.

: A right of first refusal meaning that the property must be offered to a particular group/person/authority before it can be traded on the free market. A portion of the purchase option may f.ex. include provisions around price. The right of first refusal prior to the tilbudspligten.

: A municipality receives a set proportion of the available apartments made available to the social order.

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