Hengeler Mueller advised group companies of LEG Immobilien AG on the deal, while Squire Patton Boggs has advised Deutsche Wohnen SE.
LEG Immobilien acquired 6,380 residential and 38 commercial units from Deutsche Wohnen SE. The transaction is subject to approval by the German Federal Cartel Office.
The sale will result in a change of ownership of almost 420,000 square meters in the Rhein-Neckar regions with a focus on Ludwigshafen and Mannheim, several residential areas in Braunschweig, in the vicinity of Coblenz, in Hannover/Laatzen, and a housing complex in Cologne. The apartments have an occupancy rate of almost 98% and the portfolio generated rental income of around €30 million in the 2019 fiscal year.
LEG Immobilien AG (Landesentwicklungsgesellschaft)is a German property company. As of 2016, it is a constituent of the MDAX trading index of German mid-cap companies.
Deutsche Wohnen is one of the leading listed real estate companies in Europe. The company’s operational focus is on the management of its own residential real estate portfolio in dynamic metropolitan regions and urban centres of Germany.
The Hengeler Mueller team included partners Thomas Müller (Picture), Thomas Lang (both M&A/Real Estate, Frankfurt), Markus Ernst (Tax, Munich) and Markus Röhrig (Antitrust, Brussels) as well as associates Malcolm Tiffin-Richards (Antitrust, Brussels) and Tim Würstlin (Tax, Munich).
Squire Patton Boggs advised Deutsche Wohnen with a team led by Partner Dr. Kai Mertens, which also included senior associate Alina Navarro-Melendo and associate Uwe Martin
Involved fees earner: Markus Ernst – Hengeler Mueller; Thomas Lang – Hengeler Mueller; Thomas Müller – Hengeler Mueller; Markus Röhrig – Hengeler Mueller; Malcolm Tiffin-Richards – Hengeler Mueller; Tim Würstlin – Hengeler Mueller; Uwe Martin – Squire Patton Boggs; Kai Mertens – Squire Patton Boggs; Alina Navarro Melendo – Squire Patton Boggs;