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DEALS - OPERACIONES

published APRIL 12, 2010
CMS Hasche Sigle advises Cordea Savills on acquisition of retail park

International property fund manager company Cordea Savills has acquired a retail park in Östringen, Baden-Württemberg. The property, which was acquired for the Cordea Savills Pan European Property Fund (PEPF), offers some 4,600 square metres of retail space and 170 parking spaces.
A team from CMS Hasche Sigle led by Dr Volker Zerr advised Cordea Savills on all aspects of the transaction. CMS Hasche Sigle has also advised Cordea Savills on property acquisitions for its German Retail Fund with a total value of more than EUR 330 million.
The retail park was opened in the autumn of 2006 and the main tenants are Lidl, dm and Deichmann. It is being sold by Standard Life Investments, which is represented by GermanInvest in this deal. GermanInvest will continue to manage the property.
Advisers CMS Hasche Sigle:
Dr Volker Zerr, Real Estate (Lead Partner)
Dr Kai-Guido Schick, Real Estate
Roland Wutzke, Tax
 


 

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