DLA Piper advises UBS on the sale of a logistics portfolio to Prologis
DLA Piper has advised UBS on the sale of eleven German logistics properties to Prologis, global owner, operator and developer of logistics properties. Prologis prevailed in the bidding process and acquired the logistics portfolio from an open-ended special AIF managed by UBS.
The properties, with a total leasable area of 260,000 m2, are located in Berlin, Hanover, Ulm and Regensburg, as well as in the Rhine-Ruhr, Rhine-Main and Rhine-Neckar regions. They are spread over a total of 60 hectares of land in central "micro-locations" and include both existing buildings and new opportunities for development. Prologis also plans refurbishments and upgrades, including solar panels on the roofs, charging stations for electric vehicles and LED lighting.
The DLA Piper team was led by partner Lars Reubekeul (Real Estate, Munich). Also involved were partners Fabian Mühlen (Real Estate, Frankfurt), Dr Cornelius Frie, counsel Timo Betjemann (both Corporate/M&A, Cologne), Lukas Weidner, senior associates Philipp Moser, Michael Ziegaus (all Munich), Konstantin Decker-Horz (Frankfurt), associate Dr Leonard von Bargen (Cologne) and transaction specialist Lisa-Maria Walter (Munich, all Real Estate).