Berwin Leighton Paisner advises Hines on the acquisition of the Zalando Campus in Berlin
International law firm Berwin Leighton Paisner* (BLP) has advised Hines on the acquisition of the future headquarters of online retailer Zalando in Berlin-Friedrichshain
The building ensemble with 42,000 sqm office space and 156 parking spaces is located in Valeska-Gert-Straße in Berlin-Friedrichshain. The property in the up-and-coming office property submarket Mediaspree – one of the largest property investment projects in Berlin – is fully let to Zalando, Europe’s leading online platform for fashion. The completion is scheduled for the 4th quarter of 2018.
Hines, a global real estate investment firm with offices in 24 countries, acquired the property on behalf of a Luxembourg real estate fund. The seller is a South Korean fund managed by Capstone. It bought the property last year from Austrian developer UBM by way of an asset forward deal and now sells it to Hines, which is acting on behalf of the Luxembourg-based real estate fund, by way of a complex share deal. Hines will also handle the long-term asset management for the property.
A BLP team specialising in real estate transactions provided Hines with comprehensive real estate advice on the acquisition. The team was led by Berlin partner Hanns-William Mülsch who advised Hines on previous transactions. Further team members included Berlin counsel Dr Katharina von Rosenstiel (Real Estate), Frankfurt partner Boris Strauch (Real Estate) and Berlin associates Vivian Weyreuther, Gregor Noack and Ann-Katrin Schulte (all Real Estate).
*On 1 April 2018, Bryan Cave and Berwin Leighton Paisner combined their legal practices to form Bryan Cave Leighton Paisner. The merger has not yet been completed in Germany at the present time, but is intended to be so in the future. Pending regulatory confirmation, we continue to practise as two separate legal entities in Germany: Bryan Cave Leighton Paisner LLP and Berwin Leighton Paisner (Germany) LLP.