Ingersoll-Rand’s Sale of Industrial Property in Oberhausen

GÖRG advised Ingersoll-Rand on the deal. Ashurst advised Tritax. Orrick advised Verdion.

The US group Ingersoll-Rand announced the sale of an approximately 23,000 square metre sized industrial property in Oberhausen, a former production site of the Ingersoll Rand Group.

The purchaser, an SPV of Tritax EuroBox plc (Tritax), is acquiring the land by way of a forward funding model in cooperation with Verdion. The plan is to develop a 20,264 square metre ground floor logistics property that can be divided into up to four units of the same size. The purchaser of the building has committed to aligning the building with the strict ESG criteria. Completion is scheduled for the end of 2022.

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The GÖRG team included Dr. Wolf zur Nieden (Picture – Partner, Real Estate Law, Cologne), Dr. Alexander Kessler, LL.M. (Partner, Corporate Law / M&A, Cologne), Claus Christopher Schiller (Associated Partner, Corporate Law / M&A, Cologne), Dr. Adalbert Rödding, LL.M. (Partner, Tax Law, Cologne) and Dr. Karl-Georg Küsters LL.B., LL.M. (Taxation, Associate, Tax Law, Cologne).

The Ashurst team included Dr. Liane Muschter (Partner, Real Estate Law, Frankfurt), Sven Nickel (Senior Associate, Real Estate Law, Frankfurt), Raphaela Schmidt (Associate, Real Estate Law, Frankfurt), Isabella Strauß (Transactional Attorney, Real Estate Law, Frankfurt), Henry Moss (Partner, Real Estate Law, London) and Suzannah Varey (Senior Associate, Real Estate Law, London).

The Orrick Team included Dr. Hans Felix Schäfer (Counsel, Real Estate, Düsseldorf) and  Johannes Christian Niegemann (Associate, Real Estate, Düsseldorf).

Involved fees earner: Henry Moss – Ashurst; Liane Muschter – Ashurst; Sven Nickel – Ashurst; Raphaela Schmidt – Ashurst; Suzannah Varey – Ashurst; Claus Christopher Schiller – GÖRG Partners; Alexander Kessler – GÖRG Partners; Karl-Georg Küsters – GÖRG Partners; Adalbert Rödding – GÖRG Partners; Wolf zur Nieden – GÖRG Partners; Johannes Christian Niegemann – Orrick Herrington & Sutcliffe LLP; Felix Schäfer – Orrick Herrington & Sutcliffe LLP;

Law Firms: Ashurst; GÖRG Partners; Orrick Herrington & Sutcliffe LLP;

Clients: Ingersoll-Rand plc; Tritax; Verdion;

Author: Federica Tiefenthaler