Mayer Brown advised Curzon Capital Partners 5, the ‘Long-Life’ core-plus style fund, and its local operating partner and minority co-investor, Kintyre, on their acquisition of Hery Park, a 63,642 sqm retail park with logistics in Gersthofen, near Augsburg in Bavaria, Germany for EUR 53.5 million from Revcap and FREO Group.
Hery Park encompasses a ca.135,000 sqm under-utilized site, which offers the potential to densify usage and create higher value-added functions including complimentary food offering and expanding the logistics and storage facilities for tenants onsite. Tenants include Bauhaus, BabyWelt Spiel+Freizeit, POCO, REWE and Technomarkt.
Ali Otmar, Senior Partner and Managing Director at Tristan Capital Partners, who advised Curzon Capital Partners 5, said: "Hery Park is located in one of the strongest economic regions in Europe and benefits from its strategic situation to the north of Augsburg, with excellent rail connections and links to the motorway. We see significant opportunities to improve Hery Park over time through proactive asset management and are in discussions with prospective tenants and the Municipality about potential upgrades to the area, including improved road access."
The Mayer Brown Team was led by Real Estate partner Dr. Jörg Lang (Frankfurt) and included counsel Elmar Günther, senior associate Miriam Schollmeier and associate Benjamin Schulz (all Real Estate, Frankfurt), senior associate Anja Giesen and associate Sabine Krause (both Real Estate, Düsseldorf), partner Dr. Martin Heuber and senior associate Mario Bammann (both Banking & Finance, Frankfurt) as well as partner Volker Junge and counsel Susan Günther (both Tax, Frankfurt).