GSK Stockmann provided comprehensive legal advice to the asset and property manager GPEP GmbH and the fund service platform Universal-Investment on the acquisition of a food retail portfolio consisting of 50 properties for a fund structure held by an institutional investor. To date, the purchase is the largest retail transaction to be completed in Germany in 2021. Patrizia AG is the seller of the portfolio. The parties agreed to keep the purchase price confidential.
The property portfolio comprises discount food retailers, supermarkets and specialty stores as well as hypermarkets and specialty store centres with a leasable area of around 144,370 m² that are let on medium to long-term leases. The properties cover eleven federal states and are mainly located in small and medium-sized towns throughout western Germany. Tenants include Edeka, Rewe, Lidl and Aldi.
GSK Stockmann provided comprehensive legal advice to GPEP and Universal-Investment with a team led by real estate partner Gösta Christian Makowski.
GPEP has relied on GSK Stockmann on numerous occasions, most recently in 2020 for the acquisition of a SUPERFOOD portfolio of 68 properties and previously in 2019 for the acquisition of 12 and 49 retail properties respectively.
Advisers of GPEP GmbH/Universal-Investment:
GSK Stockmann: Gösta Christian Makowski (lead, real estate law), Felix Bergfort, Anna-Lena Diedrich, Maritheres Palichleb, Rainer Werum, Josef Maria Wodicka (all real estate law), Markus Söhnchen, Wolfgang Jegodka (both corporate law); Petra Eckl, Dominik Berka, Andreas Ebert, Felix Schill (all tax law), Rebecca Comtesse (finance law). Dennis Stenzel (investment law), Julia Boßlet, Sascha Eckardt-Ringel, Julia Frankl, Stefan Frick, Lisa Gebhard, Annika Hamrol, Jan Kramer, Vanessa Lampe, Theresa Lauer, Duc Le, Kristina Marx, Michel Mohr, Eda Öz, Franziska Pompejus, Jochen Rudolph, Martin Sturm, Johannes Wohlstein.
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