Gleiss Lutz advises Patrizia AG on sale of commercial real estate
Gleiss Lutz has advised a real estate fund belonging to Patrizia AG on the sale of 13 German commercial properties to Hahn Group’s newly-launched institutional real estate fund, HAHN German Retail Fund III. The properties were transferred effective 31 October 2019.
The commercial real estate portfolio is made up of retail parks, hypermarkets and DIY superstores with a gross leasable area of around 154,000 sqm. The anchor tenants include supermarket chains EDEKA, Kaufland, Real und REWE. The properties are located throughout Germany, most in Baden-Württemberg, Lower Saxony and North Rhine-Westphalia, and others in Rhineland-Palatinate, Brandenburg and Saxony-Anhalt.
Patrizia AG has been a leading investment management firm on European real estate markets for over 35 years. As a global partner for real estate investments in Europe, the company operates across Europe for major institutional investors and private investors alike. Patrizia AG currently manages real estate assets of over 41 billion euros, mostly as a co-investor and investment management firm for insurance companies, pension schemes, sovereign wealth funds, savings and cooperative banks.
The following Gleiss Lutz team advised Patrizia AG on the transaction: Dr. Johannes Niewerth (partner, lead, Hamburg), Dr. Jonas Rybarz, Dr. Fabian Kutz (counsel, both Berlin, all real estate), Dr. Lars Kindler (Düsseldorf, public law), Dr. Birgit Colbus (counsel), Sergej Bräuer (both Frankfurt, competition/antitrust).