Luther advises IMMOFINANZ on the sale of the entire European logistics portfolio.

Luther Rechtsanwaltsgesellschaft mbH has advised Austrian IMMOFINANZ in matters of law and taxation in the sale of the European logistics portfolio to Blackstone. With this transaction, IMMOFINANZ has sold its entire logistics investment.

The portfolio includes 36 logistics sites with a total of about one million square meters of rental area in Germany (24 sites), Hungary (five sites), Romania (three sites), Poland (two sites) as well as Slovakia and Russia (one site each). The portfolio also included three projects which are yet to be completed with further 65,000 square meters of rental area, one in Germany and two in Romania. The total value of the portfolio was about EUR 536 millions. The sale of the logistics portfolio represents an important step towards continued simplification and optimisation of IMMOFINANZ's portfolio structure and serves to focus on the core competencies of retail and office.

This was not the first transaction Luther accompanied for IMMOFINANZ. The Berlin team supported the former IMMOFINANZ subsidiary BUWOG repeatedly prior to its initial public offering in April 2014 with, among other things, the acquisition of 18,000 flats, located mostly in Northern Germany, including the accompanying facility service business.

For IMMOFINANZ

Luther Rechtsanwaltsgesellschaft, Berlin (legal advisor):

Detlev Stoecker, (Partner, Lead Partner), Carsten Brutschke, LL.M. (EHI) (Partner), Lucia Henrich (all Real Estate and Real Estate Management Law)

as well as

Luther Rechtsanwaltsgesellschaft, Frankfurt (tax advisor):

Ulrich Siegemund (Partner, Lead Partner), Tilo Künstler (all tax law)

each in cooperation with partner firms in Hungary, Poland, Romania, Russia, Slovakia, and Cypress.

Contact:

solicitor
Detlev Stoecker
Luther Rechtsanwalts­gesellschaft mbH
Friedrichstraße 140
10117 Berlin
Phone +49 30 5213321141
detlev.stoecker@luther-lawfirm.com

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