The international law firm DLA Piper has been advising the Helaba Landesbank Hessen-Thüringen on financing measures for the purchase and modernization of the Carré Göttingen shopping center together with the accompanying car park in the town of Göttingen.
Purchase of the shopping centre in the town centre with some 14,550 m² of retail sales space and the car park with 304 parking bays took place through a property fund located in Luxembourg belonging to Resolutions Real Estate Advisers LLP.
The English real estate company acquired the property which is situated centrally in the pedestrian precinct of Göttingen. It has been agreed not to disclose the purchase price. The shopping center is to undergo rehabilitation and modernization step by step by the end of 2014 with an investment volume in the two-digit million range. A loan from Helaba financed the transaction.
Helaba is one of the regionally established German real estate banks with an international focus. Having a business volume of more than 200 billion and approximately 6,500 employees, it is one of Germany's leading banks.
Resolution Real Estate Advisers LLP is a leading independent property company with its head office in London. The company currently manages fund assets of approximately 1.8 billion and particularly invests in retail properties with central locations (core properties).
Advising for DLA Piper were partners Frank Schwem (Finance & Projects, Frankfurt, overall management) and Dr Carsten Loll (Real Estate, Munich) as well as senior associates Dr Torsten Pokropp (Finance & Projects, Frankfurt) and Dr Martin Haller (Real Estate, Munich).
DLA Piper commissioned the Luxembourg law firm Sedlo Jimenez Lunz, under the management of partner Michel Jimenez Lunz, to advise on the specific aspects of Luxembourg law.
Source: DLA Piper