27 June 2016
Mayer Brown announced today that it represented GPEP GmbH as portfolio manager as well as Universal-Investment on the joint acquisition of various retail properties and retail centers with a gross lettable area of around 108,000 sqm and annual rental income of around seven million Euros for an institutional investor. Seller was an internationally active special servicer. The purchase price was not disclosed.
Universal-Investment’s imposed special fund invests in inner-city office and retail properties in Germany. Universal-Investment will take over fund administration and GPEP will be responsible for real estate management. Since 2015 GPEP acquired retail properties and retail centers with a volume of around EUR 210 million.
Mayer Brown already advised GPEP and Universal-Investment on various retail portfolio acquisitions, most recently in November 2015 (see news release
The Mayer Brown team included partner Dr. Joachim Modlich (lead), counsel Dr. Jürgen Streng (both Real Estate, Düsseldorf), Dr. Christiane Mühe (Banking & Finance, Frankfurt), of Counsel Elmar Günther (Real Estate, Frankfurt), senior associates Anja Giesen (Real Estate, Düsseldorf), Susan Günther (Tax, Frankfurt) as well as associates Sabine Krause (Real Estate, Düsseldorf) and Stefanie Skoruppa (Corporate & Securities, Frankfurt).