A team of Gleiss Lutz lawyers has advised Patrizia AG, a leading global asset manager, in the context of two investments in Berlin office buildings.
Patrizia purchased a newly built office building in Michaelkirchstraße, Berlin-Mitte. All of this 4,400 sqm, ultramodern property was leased to the headquarters of the Urban Sports Club, an undertaking using a network of partner organisations to provide access to various fitness studios, sports courses and health activities with only one membership. The property was built to meet the highest standards in quality and will shortly be awarded certification in gold for Leadership in Energy and Environmental Design (LEED).
Patrizia furthermore acquired a mixed-use office building in Berlin-Kreuzberg. This building comprises a gross leasable area of 5,700 sqm consisting of one computer centre and two top-quality modern buildings. These include a recently refurbished loft office space and a newly built office property along with an outbuilding that is currently being refurbished. The total area has all been leased out.
Patrizia AG has been a leading investment management firm on European real estate markets for over 35 years. As a global partner for real estate investments in Europe, the company operates across Europe for major institutional investors and private investors alike. Patrizia AG currently manages real estate assets of over 47 billion euros, mostly as a co-investor and investment management firm for insurance companies, pension schemes, sovereign wealth funds, savings and cooperative banks.
The following Gleiss Lutz team advised Patrizia on both transactions: Dr. Johannes Niewerth (lead, Hamburg), Dr. Jonas Rybarz (counsel), Fabienne Mochow (both Berlin), Lesley Milde (Hamburg, all Real Estate), Dr. Johann Wagner (partner), Dr. Hendrik Marchal (counsel), Dr. Philip Niemann (all Tax, Hamburg), Dr. Lars Kindler (Public Law, Düsseldorf), Dr. Maximilian von Rom (p artner, Finance, Frankfurt).
Gleiss Lutz has been advising Patrizia in connection with transactions on a regular basis, including most recently on the sale of a commercial real estate portfolio made up of 13 retail parks, DIY superstores and hypermarkets along with the acquisition of 27 retail properties consisting of local shopping centres, hypermarkets and discount supermarkets.
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