DLA Piper advises Hahn Group on the sale of a real estate portfolio to CEV
DLA Piper has advised Hahn Group, based in Bergisch-Gladbach, Germany, on the sale of a portfolio of 13 retail parks previously held by the institutional real estate fund HAHN FCP-FIS - German Retail to CEV Handelsimmobilien GmbH, based in Hamburg.
The established retail parks are spread across different parts of Germany, including five in North Rhine-Westphalia, two each in Bavaria, Baden-Württemberg and Schleswig-Holstein, and one each in Lower Saxony and Rhineland-Palatinate. The total rental space of the almost fully let portfolio amounts to 174,000 sqm.
The Hahn Group has been active since 1982 as an asset and investment manager specializing in supply-oriented retail and mixed-use properties. Hahn Group has already successfully launched more than 190 real estate funds, and currently manages assets of more than EUR7 billion.
The HAHN FCP-FIS - German Retail Fund, launched in 2008, was one of the first institutional real estate funds to focus on the asset class of retail parks, hypermarkets and DIY stores. Over its term of around 15 years, HAHN FCP has achieved an average annual return (IRR) of around 7.4 percent.
The DLA Piper team was led by partner Fabian Mühlen (Real Estate) and included partners Dr Marie-Theres Rämer (Tax), Semin O (Antitrust, all Frankfurt), counsel Dr Enno Ahlenstiel (Antitrust, Cologne), senior associates Moritz Mursa, Dr. Philipp Reclam (both Real Estate), Albina Daka (Tax), Ina Fey (Antitrust, all Frankfurt), associates Vanessa Brückner, Dr Leonard von Bargen, Muhammet Yavuz (all Real Estate, Cologne) and Caroline Huber (Antitrust, Frankfurt).