DLA Piper advises Aurelis on part sale of Nuremberg's Marienzeile to Wealthcap

DLA Piper has advised Aurelis Real Estate on the sale of the third of a total of four planned office buildings in Nuremberg's Marienzeile to real asset and investment manager Wealthcap, a subsidiary of the Unicredit Group. The office building, called “Ludwig”, is located close to the main railway station and comprises a total lettable area of 10,262 square metres, distributed over five upper floors, a basement and an underground car park with 116 parking spaces. The new building is scheduled for completion in the fourth quarter of 2022 and is currently let to the Bundesanstalt für Immobilienaufgaben on a long-term basis. The institution signed the lease on behalf of the Federal Office for Migration and Refugees, which will use the premises in the future.

Marienzeile stretches for around 350 metres along Nuremberg's Bahnhofstraße, not far from the historic old town. The main “Wilhelm” building is already in use and was acquired by Savills IM, as was the “Maximilian” building. The fourth building, “Karl”, is expected to be ready to receive tenants in mid-2023.

Aurelis Real Estate was founded in 2002 and is an asset manager and project developer with a focus on corporate real estate. Aurelis builds, refurbishes and leases modern corporate properties throughout Germany, from production halls to warehouses and logistics properties to office space. The rental portfolio is constantly being expanded through targeted acquisitions. The focus is on industrial parks, warehouses and factory premises in urban areas and metropolitan regions in Germany.

The DLA Piper team was led by partner Dr Martin Haller and counsel Dr Manuel Indlekofer (both Real Estate, Munich) and also included partner Dr Marie-Theres Rämer (Tax, Frankfurt), senior associate Thomas Herbst and associates Dr Lilian Gutkin (both Real Estate, Munich) and Eda Altintas (Tax, Frankfurt).