HOCHTIEF Projektentwicklung GmbH has reportedly received bids for aurelis Real Estate GmbH & Co. KG, three people familiar with the matter told Reuters. Several private equity groups have handed in binding offers.

Morgan Stanley Real Estate Investing (MSREI), Brookfield Asset Management Inc. (TSX:BAM.A) and Patron Capital Limited are also interested in aurelis, but it was not clear whether the investors are among the final bidders. There are bids for 100% as well as for 50%. Deal is expected to be signed in later in the quarter ending March 31, 2014 or second quarter ending June 30, 2014.

Grove International Partners LLP will sell its stake if the price is right, one of the people said. According to Reuters MSREI, Brookfield and Patron declined to comment, while Grove was not immediately available for comment.