LEG Immobilien AG’s Residential Portfolio Sale To Coreo

Heuking Kühn Lüer Wojtek advised LEG on the sale of a portfolio of 272 apartments and a commercial unit in the cities of Wuppertal, Bielefeld, Gelsenkirchen, and Lünen to Coreo.

The total rental space is 19,800 square meters. The buyer is Coreo.

The residential portfolio is almost fully rented out. The deal is Coreo’s first apartment acquisition in North Rhine-Westphalia.

MDAX-listed LEG Immobilien AG is headquartered in Düsseldorf and is one of Germany’s leading real estate companies with some 131,000 rental apartments (rental website). In 2018, LEG generated rental and leasing income of about EUR 767 million.

Coreo AG is a real estate company focused on German commercial and residential real estate. It invests in properties with considerable potential for value appreciation with an existing need for development, preferably in mid-sized centers.

Heuking Kühn Lüer Wojtek’s team included: Dr. Peter Vocke (Picture), Christoph Nöhles, LL.M., Fabian Schmitz (all Real Estate & Construction), all Düsseldorf.

Involved fees earner: Christoph Nöhles – Heuking Kühn Lüer Wojtek; Fabian Schmitz – Heuking Kühn Lüer Wojtek; Peter Vocke – Heuking Kühn Lüer Wojtek;

Law Firms: Heuking Kühn Lüer Wojtek;

Clients: LEG Immobilien AG;