MVGM acquires the continental European property management business of Jones Lang LaSalle and enters into an alliance partnership
The Dutch property manager MVGM and the international real estate professional services firm Jones Lang LaSalle have reached an agreement for MVGM to acquire JLL’s continental European property management business and intend to enter into an alliance partnership. A team of Heuking Kühn Lüer Wojtek led by the Düsseldorf based partner Dr. Martin Imhof advised MVGM jointly with the Dutch law firm BarentsKrans in this transaction.
MVGM is the largest real estate service provider in the Netherlands. With about 900 employees and more than 20 offices in the Netherlands, MVGM concentrates on the management of real estate, rental, owners‘ associations and 1.5 million sqm office and commercial space as well as 1.5 million sqm retail space. The acquisition of the continental European property management business of JLL is a leap forward in MVGM’s growth ambition and a perfect strategic fit which adds more than 12 million sqm to MVGM’s current portfolio in the Netherlands and Germany. MVGM becomes a top tier property manager in Germany and a top five European player in the evolving property management market.
Heuking Kühn Lüer Wojtek already advised the MVGM Group in connection with its market entry in Germany and the acquisition of PropertyFirst GmbH from RGM Group which became effective as per 1. January 2019. The acquisition of the JLL business division gives MVGM an additional foothold with further 540 employees in Spain, Portugal, Belgium, Luxembourg, Poland, Czech Republic, Romania and Slovakia as well as expanded teams in the Netherlands and Germany.
In addition to the takeover of the property management business, MVGM and JLL entered into an alliance partnership regarding the strategic collaboration in the real estate sector.
The parties agreed not to disclose the commercial conditions of the transaction. The transaction is expected to close until the end of 2019 in each of the relevant countries.
Counsel to MVGM
Heuking Kühn Lüer Wojtek:
Dr. Martin Imhof (Lead, Corporate/M&A)
Sebastian Pollmeier (Corporate/M&A)
Christoph Nöhles, LL.M. (Real Estate/Property Management)
Fabian Schmitz (Real Estate/Property Management)
Dr. Alexander Bork (Employment)
Dr. Philip Kempermann, LL.M. (IT)
Alexa Finke, LL.M. (IT)
Beatrice Stange, LL.M. (Competition Law)
Astrid Luedtke (Data Protection), all based in Düsseldorf
BarentsKrans, the Netherlands:
Rhamsey Croes, (Lead, M&A)
Elze van der Minne (Corporate/M&A)
Anne Monique Huijg (Corporate/M&A)
Joost Fanoy (Competition Law), all based in The Hague