Mayer Brown advised BEOS AG, a company owned by real estate investor Swiss Life Asset Managers, on the acquisition of the hereditary building rights for 153,000 square meters of space in the Frankfurt-Griesheim industrial park from SGL Carbon.
SGL Carbon SE prematurely terminated its existing hereditary building right for the industrial park in agreement with the owner Clariant Produkte (Deutschland) GmbH, which will take effect upon deletion from the land register, expected in 2022. As a result, a new hereditary building right will be incorporated for a joint project company of BEOS AG and Swiss Life Asset Managers until 2118. By rounding off the former SGL site, this area will grow to a total of approximately 730,000 square meters. The parties have agreed not to disclose the ground rent.
The Mayer Brown team led by Real Estate counsel Dr. Philipp Schaefer, and included Real Estate counsel Elmar Günther; Tax Transactions & Consulting partner Volker Junge and associate Kai Yan (all Frankfurt).