DLA Piper has advised solely owned Zabel Property AG on its acquisition by Jones Lang LaSalle (JLL).
The sale took place subject to approval by the German Federal Cartel Office. Employees of Zabel Property AG will be transferred without exception to JLL and after a transition period, the Zabel brand will be converted into the JLL brand.
Headquartered in Berlin, Zabel Property has specialized in the sale of high-quality condominiums to international and national buyers in Germany’s cities for more than 25 years. With 270 apartments sold to buyers from 28 nations, the company recorded a transaction volume of some EUR 118 million in the financial year ending in 2015.
JLL is a service, consultancy and investment management company in the real estate sector. The company is represented worldwide with more than 280 offices and in more than 80 countries with over 60,000 employees.
The DLA Piper team, based in Hamburg, was led by Corporate partner Dr Nils Krause (Picture) and comprised senior associates Dr Jan-Philipp Meier and Dr Danguole Hackel (Corporate), counsels Dr Annemarie Bloss and Verena Grentzenberg (both IPT) and associate Ronja Hecker (Corporate).
Law Firms: DLA Piper;
Clients: Zabel Property AG;