15 July 2015
Leading global law firm Mayer Brown advised Universal-Investment-Gesellschaft mbH and GPEP GmbH on the acquisition of a portfolio with 10 Lidl retail properties for a special fund. The properties have a gross lettable area of around 15,000 sqm and were sold by an international investor. The purchase price was not disclosed. The retail premises are located in Germany with a focus on Bavaria and Baden-Wuerttemberg.
The special fund, which was incepted by Universal-Investment for an institutional investor, invests in inner-city office and retail properties in Germany. Following inception and structuring, Universal-Investment will take over fund administration and GPEP GmbH will be responsible for the portfolio, property and asset management. Mayer Brown advised GPEP and Universal-Investment earlier on the acquisition of a 12 properties retail portfolio (see news release
The Mayer Brown team included partner Dr. Joachim Modlich (lead), counsel Dr. Jürgen Streng, senior associate Anja Giesen (all Real Estate, Düsseldorf), partner Dr. Ingo Kleutgens as well as senior associate Cornelia Wiendl (both Tax, Frankfurt).