Gleiss Lutz advises Invesco Real Estate and BNP Paribas REIM on acquisition of Designer Outlet Wolfsburg for Bayerische Versorgungskammer

Gleiss Lutz has advised global real estate management firm Invesco Real Estate and BNP Paribas REIM on the acquisition of Designer Outlet Wolfsburg for state pension fund Bayerische Versorgungskammer. The designer outlet centre was sold by Europa Capital LLP and Hans Dobke, managing director of Outlet Centres International, who retains a minority interest. Invesco Real Estate will manage the centre together with Outlet Centres International. The transaction was closed on 29 April 2016.

Designer Outlet Wolfsburg is located in the heart of Wolfsburg’s city centre and currently spans an area of approx. 17,500 m2. Following closing the site is to be expanded by 4,500 m2, allowing for an increase of its present 70 shops to approx. 100.

Invesco Real Estate is the real estate investment team of Invesco Ltd. Invesco Ltd. is one of the world’s largest independent investment managers with over 771 billion US dollars in assets under management as at 31 March 2016.

Invesco was advised by the following team of Gleiss Lutz lawyers: Dr. Tim Weber (lead, partner, M&A/real estate), Svenja Bender, Isabel Jahn (all Frankfurt), Konrad Discher, Dr. Jonas Rybarz (both Berlin) (all real estate), Dr. Jacob von Andreae (partner, public law, Düsseldorf), Dr. Johann Wagner (partner), Dr. Jens Wrede (both tax, Hamburg), Dr. Birgit Colbus (counsel, competition/antitrust), Sebastian Tusch (counsel), Dr. Benjamin Herz (both financial regulatory), Dr. Michael Ilter and Christian Kleppmann (both corporate) (all Frankfurt).