A team led by Munich partner Monique Franke advised an institutional investor on the sale of 22 local supply stores to the Habona Invest Group.
The properties sold are spread across several locations in Germany, including in the federal states of North Rhine-Westphalia, Bavaria, Saxony, Baden-Württemberg and Hesse, and have a total lettable area of around 60,000 sqm. All of the locations play an important role in the local supply infrastructure. Well-known food retailers account for more than 85% of the rental income, ensuring the long-term profitability and stability of the portfolio. The portfolio was sold for over EUR 100 million.
Habona is acquiring the portfolio on behalf of the special fund of a German insurance company.
GSK Stockmann provided comprehensive advice to the seller on the structuring of the sale process, including various associated issues, the drafting and negotiation of contracts, as well as individual asset management issues relating to the properties in the portfolio.
Advisers of the institutional investor at GSK Stockmann:
Monique Franke (lead, real estate investments & asset management), Katharina Groche, Florian Pletschacher, Bianca Luppert (all real estate investments & asset management) as the core team, with additional support from Dr Petra Eckl and Marc Nostitz (both tax), Harald Feiler and Kadir Öztürk (KYC/compliance), Sascha Zentis (regulatory law), Theresa Jakob (public building law), Wolfgang Jegodka (antitrust law)
