A team led by Dr. Peter Zimmermann, Partner at business law firm Heuking Kühn Lüer Wojtek’s Düsseldorf office, legally advised AXA Investment Managers on the sale of "Phönix Center" in Fürth on behalf of fund company Property Trust Fuerth S.à.r.l. The property with a total investment of some EUR 35 million had been built in 2000 and was expanded in 2011.
The buyer is Hahn Group, which acquired the specialist market through an asset deal on behalf of the institutional Hahn FCP-FIS German Retail Fund. The sale was authenticated in the fall of 2015. Düsseldorf-based McDermott Will & Emery advised the seller.
"Phönix Center" in Fürth has a total rental area of 20,000 square meters and is fully rented. Tenants include retailing group EDEKA, C&A, Takko, Deichmann, dm, and Charles Vögele.
AXA Investment Managers is a long-term, global, multi-asset investment manager with numerous funds for bonds, equities, alternative investments, and customized multi-asset solutions.
Hahn Group was established in Cologne in 1982 and as asset and investment manager specializes in large-scale retail properties.
The team led by Zimmermann had recently advised long-standing client AXA on the purchase of a commercial building in Kiel from Centrum.
Counsel to AXA Investment Managers
Heuking Kühn Lüer Wojtek:
Dr. Peter Zimmermann (Contract Design and Negotiation as well as Transaction Coordination),
Kathrin T. Paulet (both Due Diligence and Transaction Support)
Dr. Marc P. Scheunemann, LL.M. (Tax Aspects), all Düsseldorf