Leading global law firm Mayer Brown has advised Citigroup Alternative Investments LLC in respect of its interests in Monterey Holding I Sarl, the parent company of Deutsche Annington, in relation to the IPO of Deutsche Annington, Germany’s largest residential landlord, on the Frankfurt Stock Exchange.

Shares in Deutsche Annington, gained over 6 percent on their first day of trading as approximately 35 million shares were placed at EUR 16.50 per share. The overall placement volume amounts to EUR 575 million. Deutsche Annington is the second German property company to list its shares this year.

Jeremy Kenley, Corporate partner, said: “The second quarter of 2013 has proved to be a strong one for European IPOs, improving on activity from the first quarter. German residential is one of the most stable asset classes in Europe at the moment and given the relative economic strength and low investment yields in other asset classes, I imagine we will continue to see interest in the German property market.”

The Mayer Brown team was led from London by Corporate & Securities partner Jeremy Kenley and included Corporate & Securities partners Kate Ball-Dodd and Dr Ulrike Binder (Frankfurt), senior associate Connor Cahalane, trainee solicitor Salma Daneshmand and Tax Transactions & Consulting partner Jason Bazar (New York).