DLA Piper advises Allianz Real Estate on the acquisition of EDGE Hafencity in Hamburg
DLA Piper has advised Allianz Real Estate on its acquisition of the office property EDGE Hafencity as part of an off-market forward deal. EDGE HafenCity Hamburg will be a 15-storey building with a total lettable area of approximately 22,500 sqm. The building, which is due to be completed by the end of 2021, will feature a restaurant, café and offices including co-working and flexible spaces.
The acquisition forms part of Allianz Real Estate’s move into high-quality office space. It also provides them with access to a preferred submarket in Hamburg - HafenCity - where it currently has no exposure.
Allianz Real Estate is the captive investment and asset manager for real estate within Allianz Group. It develops and executes tailored investment strategies for the Allianz Group, focusing on direct and indirect equity globally and commercial real estate loans in Europe and the U.S. At the end of 2018 it had EUR63.5 billion assets under management.
The DLA Piper team was jointly led by partners Christian Lonquich (Real Estate) and Dr Marie-Theres Rämer (Tax), and also comprised partners Fabian Mühlen, Dr Florian Biesalski (both Real Estate), Dr Torsten Pokropp (Finance, Projects & Restructuring), Semin O (Antitrust, all Frankfurt) and Dr Jan Geert Meents (IPT, Munich), senior associates Carla Nicolai (Real Estate), Martin Wilmsen (Finance, Projects & Restructuring, both Frankfurt) and Wiebke Jakob (IPT, Munich) as well as associates Sascha Ryssok, Konstantin Decker-Horz (both Real Estate), Eda Altintas (Tax), David Klock (Antitrust, all Frankfurt) and Fabian Hafenbrädl (all IPT, Munich).
The in-house team at Allianz Real Estate consisted of Dr Markus Trotter-Melitz, Isabel Haupt (both Legal) and Thomas Vana (Tax).