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Cologne, Germany-Investment company Colonia Real Estate AG has signed an agreement to acquire 94% of the shares of Grasmus Holding B.V. Financial details of the transaction were not disclosed. The shares are being sold by Vega Investments S.a.r.L. of Luxembourg, a company affiliated with Cerberus Funds, a global fund management group. Grasmus Holding owns and operates a portfolio of 3,488 residential units located at eight sites in northern Germany. With this deal, Colonia Real Estate AG "substantially expands" into the German residential market, says Stephan Rind, the local company's CEO. Vega Investments will receive new shares in Colonia Real Estate AG. Condominium sales to existing tenants at four locations will begin in January. Two other projects will be sold to private and institutional investors. The remainder of the portfolio will be held by Grasmus B.V.