Heuking advises ILG Group on the acquisition of a retail park in Wittmund
Supported by a team led by Klaus Weinand-Härer and Dr. Frank Baßler, both Partners at Heuking Kühn Lüer Wojtek,ILG Capital GmbH, acquired a specialty retail park in Wittmund, East Frisia, on behalf of an institutional fund.
On more than 27,000 square meters of land and with a rental area of about 5,500 square meters, the property in Wittmund is leased by Combi and Aldi on a long-term basis. The seller is a fund owned by MCAP Global Finance, representing a European subsidiary of Marathon Asset Management, a New York-based company managing assets of some USD 17.3 billion. The transaction was brokered by JLL.
Owner-managed ILG Group specializes in German retail properties and offers its investors and clients a fully integrated support concept throughout all phases of the retail real estate life cycle. The company manages properties valued at over EUR 1.4 billion and more than 880,000 square meters of retail space.
Counsel to ILG Group
Heuking Kühn Lüer Wojtek:
Dr. Frank Baßler (Lead, Real Estate),
Dr. Nicole Armingeon (Public Law),
Andreas Lutz (Real Estate), all Stuttgart
Klaus Weinand-Härer (Lead, Tax),
Adam Brockmann (Tax), both Frankfurt