Ashurst advised HIH Invest Real Estate (HIH Invest) on the sale of the office and commercial building Olivandenhof in Cologne / Germany to MOMENI. MOMENI acquires the property together with a German professional pension scheme and a Luxembourg special investment fund. The parties have agreed not to disclose the purchase price.
Olivandenhof, located on the corner of Zeppelinstrasse and Richmodstrasse, is situated in a prime downtown location of Cologne between the main shopping streets Breite Strasse and Schildergasse. The listed property features around 12,000 sqm of gross floor space. The striking building is fully leased, with outdoor retailer Globetrotter as its long-time main tenant.
The Ashurst team was led by partner Dr Liane Muschter. She was assisted by senior associate Christopher Jeschor, associates Raphaela Schmidt and Carolin Siebeck as well as transaction lawyers Ibrahim Ünal and Maren Brettschneider (all Real Estate). Advice on tax law aspects was provided by partner Dr Anders Kraft and associate Steffen Bellmann. Senior associate Ilka Breuer advised on investment law.
HIH Invest is one of the leading investment managers for real estate in Germany and Europe. Currently, assets with a volume of €17.5bn are being managed across 89 funds. Ashurst regularly advises HIH group, most recently for example on the sale of a commercial building in Speyer / Germany to Spiramax.
