Mayer Brown advises Curzon Capital Partners III on the Acquisition of a Shopping Center
27 January 2014
Frankfurt/Düsseldorf - Leading global law firm Mayer Brown advised Curzon Capital Partners III on the acquisition of a shopping center in the German town of Witten in North Rhine-Westphalia from inter alia CONCEPTA Projektentwicklung and Westdeutsche ImmobilienBank. Curzon Capital Partners III is a fund advised by pan-European real estate investment manager, Tristan Capital Partners.
The shopping center, with a total rental area of 17,866 square metres, lies in a pedestrianised zone in the town centre of Witten, which borders the municipalities of Bochum and Dortmund. The property is a new two-storey building designed by the architects Chapman Taylor. Its tenant base is a diverse roster of national and local brands weighted mainly towards fashion and electronic retailers, including H&M, C&A, Saturn, Deichmann and dm drugstore.
Kintyre Investments, based in Frankfurt am Main, has been selected as the local operating partner responsible for the operational asset management of the centre as well as tenant relationships. Kintyre Investments will also act as a minority co-investor. In addition, CONCEPTA will keep a minority stake and be involved in supporting certain asset management initiatives.
The Mayer Brown team working on the transaction was led by partner Dr. Jörg Michael Lang and encompassed counsel Andreas Hilfrich (both Real Estate, Frankfurt) and associates Elmar Günther, Gelena Yufa (both Real Estate, Frankfurt) and Anja Giesen (Real Estate, Düsseldorf).
Mayer Brown advised Curzon Capital Partners III on past investments inter alia two logistics centers in the port of Hamburg and Überherrn.