Advent International has asked for first-round bids for the software arm of real estate lender Aareal Bank, according to Bloomberg News.

The buyout firm may seek an equity value of at least €3 billion (about $3.3 billion) for the unit, Aareon, Bloomberg reported. It is expected to attract interest from other buyout firms. Suitors may opt to bid for Advent’s 30 percent direct stake in Aareon or for 100 percent of the business, as reported by Bloomberg. Aareon, based in Mainz, Germany, makes software for the property industry, including for payments, contracts and facilities management.