Global law firm Hogan Lovells has advised its long standing client, HIH Invest Real Estate GmbH (HIH), on the multi-million Euro sale, comprised of two office properties situated in Auckland, New Zealand, to a joint venture comprising listed property company, Precinct Properties New Zealand Limited, global private investor, PAG and local Iwi, Ngāti Whātua Ōrākei.
Both assets, centrally located in Auckland’s CBD, have been institutionally managed by HIH, one of the leading investment managers for real estate in Germany and Europe, with ongoing capital improvements and strategic initiatives implemented in order to position the buildings both in the short and the long term, and were sold as a portfolio to the buyer.
The transaction was jointly led by Real Estate partner Dirk Debald (Hamburg), and Corporate partner Jacky Scanlan-Dyas (Tokyo), with assistance from Corporate senior associate Ross King (Tokyo).
Local Real Estate advice was provided by partner Tim Bunker of Anthony Harper, one of New Zealand’s longest established law firms, with assistance from senior solicitor Sabina Boyd.
Dirk Debald commented, “We were very pleased to be able to support our German based client in this exciting overseas transition with our excellent international network.”
