Deutsche Bank, Dresdner Kleinwort, Goldman Sachs and Morgan Stanley are to lead what could be Germany's largest flotation in two years as bookrunners for the listing of Fortress Investment Group's German property portfolio.

The US alternative investments and asset management firm could raise €1bn ($1.3bn) to €1.5bn from selling a 25% stake in the portfolio. The initial public offering values the company at €9bn to €10bn and is scheduled for October, Bloomberg reports.