Gleiss Lutz advised Rockspring Property Investment Managers on real estate acquisitions in Germany with a total volume of more than EUR 100 million. The transactions comprised the acquisition of two specialty store centres in Bavaria and Berlin and the acquisition of a shopping centre in Leipzig.
The acquired specialty store centre in Berlin-Friedrichshain and the “Iller-Center” in Senden near Ulm have a combined rentable floor space of 49,500 m2. The average purchase price was EUR 1,440 per square meter. The “Löwen Center” with a rentable floor space of 41,500 m2 that was acquired in Leipzig will first be modernised at a cost of approximately EUR 6 million. Rockspring acquired the property at a price of EUR 825 per square meter.
Parallel to these acquisitions, Gleiss Lutz also advised the British investment group on the sale of two retail objects with long-term leases in Jever and Krefeld for a total consideration of more than EUR 30 million. The following Gleiss Lutz team advised Rockspring: Dr. Johannes Niewerth (partner, lead), Fabian Kutz, Konrad Discher, Dr. Jonas Rybarz (all real estate, Berlin).
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