Gleiss Lutz advised Patrizia Immobilien AG on its acquisition of 27 retail properties in Germany for one of its retail funds. The portfolio is primarily made up of local shopping centres, hypermarkets and discount supermarkets. The total leased space is about 55,600 m2. The seller is the US investor Marathon Asset Management and the purchase price is around 100 million euros.
Patrizia Immobilien 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 currently manages real estate assets of over 40 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 team of Gleiss Lutz lawyers advised Patrizia on the transaction: Dr. Johannes Niewerth (partner, lead, Berlin), Dr. Jonas Rybarz (Berlin), Dr. Fabian Kutz (counsel, Berlin, all real estate), Dr. Lars Kindler (public law, Düsseldorf), Dr. Birgit Colbus (counsel, Frankfurt), Antonia Harbusch (Frankfurt, both competition/antitrust).
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