DLA Piper has advised an institutional real estate fund managed by Hahn Group on the sale of the Pfungstadt retail park in for a total consideration of EUR27 million. The buyer is also the Hahn Group, which acquired the property for the institutional special real estate AIF “HAHN German Retail Fund IV”. The transfer of the property took place at the beginning of December 2020.
The retail property in Pfungstadt, built in 2007-2009, consists of five building structures and has a total leasable area of around 15,000 square meters. The retail park is located on the north-western edge of the city center and is a long-established, high-frequency supply location for the region.
The Pfungstadt retail park is the first acquisition of the recently founded HAHN German Retail Fund IV. The open-ended special AIF aims to achieve a target volume of at least around EUR180 million and invests in large-area core retail properties such as retail parks, consumer markets, self-service stores and DIY stores. Two municipal supply associations have subscribed to a total of around EUR100 million in equity.
The DLA Piper team was led by partner Fabian Mühlen (Real Estate) and included partner Dr Marie-Theres Rämer (Tax) as well as senior associates Sonja Beier (all Frankfurt) and Moritz Mursa (Cologne, both Real Estate).
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press releaseThe advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
