* BayernLB to kick off GBW sale in coming days
* Package of 33,000 flats could reap 2 bln euros - experts
* Patrizia Immobilien says is getting ready to bid
* Group of German municipalities also set to bid
(Adds comments from BayernLB CEO)
By Peter Dinkloh and Christian Kraemer
MUNICH, Oct 10 (Reuters) - German public sector lenderBayernLB will start the sale of 33,000 flats in thenext few days, its Chief Executive said, in a deal that couldeasily top this year's biggest real estate transaction inGermany.
The bank, which has to sell the real estate unit GBW
to meet European Commission demands, is seekingnon-binding bids until year-end, CEO Gerd Haeusler said onWednesday.
Experts have said the package could fetch about 2 billioneuros ($2.6 billion).
BayernLB ran into trouble in 2008 after risky investmentsturned sour in the financial crisis, prompting the state ofBavaria to inject 10 billion euros in fresh capital.
To ensure the so-called Landesbank - a German state-ownedregional bank - does not have an unfair advantage, Europe'scompetition watchdog demanded a revamp, which included the saleof assets like GBW.
Potential buyers will be able to access data rooms in early2013, Haeusler said, adding the goal was to close the deal byApril 2013.
German real estate company Patrizia is ready toparticipate in the auction, Patrizia's finance chief ArwedFischer told Reuters. "We are ready to get going," he said.
Patrizia would make a bid for the flats - located ineconomically robust southern German cities such as Munich andNuremberg - jointly with about a dozen co-investors, mostlypension funds and insurers.
"There is enough interest," Fischer said, saying it wasrelatively easy to get investments from individual investors ofmore than 100 million euros at the moment.
Separately, a group of southern German cities andmunicipalities, partnering with financial investors, have saidthey will place an offer.
A consortium led by Patrizia already made the biggest realestate acquisition earlier this year, buying the real estateassets of Germany's biggest public-sector bank LBBWfor 1.44 billion euros.
(Writing by Maria Sheahan and Arno Schuetze; Editing by HelenMassy-Beresford)
Keywords: BAYERNLB PATRIZIA/