International law firm Clifford Chance has advised LBBW Immobilien Investment Management GmbH on the acquisition of a Hornbach hardware store in Munich-Freiham. LBBW Immobilien has acquired the property as the first asset for its special fund LBBW Nahversorgungsimmobilien Deutschland.
The property is located on a 33,000 square metre site and has a commercial lettable area of approximately 28,600 square metres and around 770 parking spaces. It is excellently positioned in the west of Munich and has long-term leases with strong credit ratings.
The special fund LBBW Nahversorgungsimmobilien Deutschland focusses its investments on retail properties in Germany offering everyday needs that are in high demand even in times of crisis and that are only exposed to economic fluctuations to a limited extent. Further purchases are planned.
The Clifford Chance team advising LBBW Immobilien comprised partner Gerold Jaeger (Düsseldorf), counsel Martin Barlösius (Munich), senior associate Amrei Fuder, transaction lawyers Birgit Seyfert (both Frankfurt) and Tina Lukić (Düsseldorf) as well as legal support assistant Sabrina Becker (Frankfurt, all Real Estate), partner Olaf Mertgen and senior associate Steffen Waadt (both Tax, Frankfurt) as well as partner Heiner Hugger and counsel Gerson Raiser (both Litigation & Dispute Resolution, Frankfurt).
