The secretive Mann group, which in the 1990s exited the Germany-wide Mann Mobilia furniture group founded in the 1980s and the Wertkauf chain to WalMart, owns properties across the world with a focus on the US (Texas, New York) and Germany. The Mann group built, post WW II by Hugo Mann who died in 2008 worth over $3 billion, is now run by his son Johannes Mann. Also owning the Westhafen and Citibank buildings in Frankfurt, its acquisition of the outstanding share package from Solidas 3, the holding firm of the former Sal. Oppenheim partners, is subject to approval from Germany's antitrust agency.

"The investment of this dedicated and experienced real estate investor is a great sign of confidence in the strategic realignment of our company" commented IVG CEO Gerhard Niesslein. IVG shares climbed slightly more than $8.08 after the news. IVG manages assets worth $31 billion in 18 German and European cities. It owns properties with a market value of $6 billion, and manages the remainder in a funds division.