Treibreu Group has acquired the properties of the Japanese CREED Corporation located in Germany in a transaction with total committed finance of 64 million. The portfolio comprised 58 properties in Berlin, Leipzig and Dresden, which were mainly used for residential purposes, and which were held by two Dutch subsidiary companies of the Creed Corporation in Japan. Creed is currently in administration, under the supervision of the Tokyo courts. Over the past years, Creed had acquired the properties individually and has now divested the entire portfolio by way of an asset deal.
The company and its associated investment entities, now owns over 120,000 m2 of residential property in Bonn, Berlin, Leipzig and Dresden, and is seeking to make further acquisitions.
According to Matthias Druba, managing partner of FPS Rechtsanwälte & Notare in Berlin, the transaction under the legal supervision of the two partners Peter Diedrich and Istvan Szabados shows that investors start purchasing on a selective basis and require high quality legal services in all respects.
"Legal expertise in the real estate sector in Germany clearly stands up to international law firms," describes Druba the prevailing trend when it comes to choosing the legal advisor.