Ashurst advised Warburg-HIH Invest Real Estate (Warburg-HIH Invest) on the acquisition of the "Hattrick"-Portfolio from Real I.S. The real estate portfolio consists of three multi-tenant commercial properties in Mannheim, Wiesbaden and Munich. The parties agreed not to disclose the purchase price.
The total rental area of the three properties amounts to around 12,200 sqm, of which around 70% is office space, 25% retail and 5% other space. The space is fully let to blue-chip tenants.
The Wiesbaden property at Murnaustrasse was built in 2016. The conveniently located office property has a total rental area of around 3,750 sqm. The main tenant is Barmer Krankenkasse. The Mannheim property is located at the central Planken street. Refurbished in 2003, the property has a total rental area of around 3,700 sqm and 41 parking spaces. The main tenants are ALDI Süd and the city of Mannheim. The property in Munich with a total rental area of around 4,700 sqm is located at Clarita-Bernhard-Strasse. The multi-tenant building is located in the developing Freiham district, one of the major district developments in Europe. The main tenants are Schlafraumkonzepte Stephan GmbH and Heidelberger Druckmaschinen AG, two renowned companies.
The Ashurst team was led by partner Dr Liane Muschter. She was assisted by senior associate Sven Nickel, associates Raphaela Schmidt, Anja Bode and Florian Wörner as well as transaction lawyers Ingrid Schmidtgal and Daniel Weimann (all Real Estate). Partner Dr Anders Kraft and associate Steffen Bellmann 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 €12.9bn are being managed across 78 funds.
