Heuking advised VALUES Real Estate on the acquisition of a logistics hall in Wörnitz
Dr. Henrik Lay, Partner, and Simon Pommer, LL.M., Senior Associate, both from Heuking’s Hamburg office, advised VALUES. Real Estate Holding GmbH on the acquisition of a two-part logistics hall ensemble in Wörnitz (Middle Franconia) on behalf of its VALUES logistics real estate fund.
Located at the intersection of the A7 and A6 highways in “Panattoni Park Mittelfranken,“ the hall’s leasable area is 46,000 square meters on an 81,000 square-meter plot. Brokered by Colliers International Deutschland GmbH, the property was acquired from a joint venture consisting of project developer Panattoni Deutschland and PGIM Real Estate. The sole long-term tenant is a global retailer in the white goods sector. The parties have agreed not to disclose the purchase price.
The VALUES logistics real estate fund is an open-ended special AIF aimed at German professional and semi-professional investors. With a target fund volume of EUR 500 million, the fund’s strategy provides for the acquisition of a real estate portfolio of logistics and light industrial properties in specific prime A and B locations at logistics hubs in German regions with a pronounced industrial cluster.
A team from REIUS legally advised the client on the transaction in addition to the tax advice from Heuking Kühn Lüer Wojtek.
Counsel to VALUES. Real Estate Holding GmbH
Heuking Kühn Lüer Wojtek:
Dr. Henrik Lay,
Simon Pommer, LL.M, (both Tax), both Hamburg