Ashurst advised Warburg-HIH Invest Real Estate (Warburg-HIH Invest) on the acquisition of the future headquarters of the district police authority of the Rhine-Erft district in Bergheim near Cologne on behalf of an individual fund. Warburg-HIH Invest acquired the property development by way of a forward deal from Tecklenburg group, which developed the project and is constructing the building. The parties agreed not to disclose the purchase price.
The four-storey complex on a plot of around 21,600 sqm at Sportparkstrasse has a lettable area of around 12,100 sqm and provides 340 parking spaces. Completion is projected for mid-2023. It is planned to seek a DGNB Gold certification for the building. The lease agreement with the state of North Rhine-Westphalia as sole tenant has a term of 20 years. The property benefits from convenient transport links, and is centrally located within the Cologne/Bonn region.
The Ashurst team was led by partner Dr Liane Muschter. She was assisted by senior associate Sven Nickel, associates Raphaela Schmidt and Anja Bode as well as transaction lawyer Isabella Strauß (all Real Estate). Partner Dr Anders Kraft and senior associate Dr Susanne Knoch advised on tax law.
Ashurst's longstanding client Warburg-HIH Invest is one of the leading investment managers for real estate in Germany and Europe. Currently, assets with a volume of €13.3bn are being managed across 78 funds.
