MUNICH (October 20, 2016) – The U.S. Abinger group acquires together with the Düsseldorf based DIWG group a portfolio consisting of five retail properties at various locations in North Rhine Westphalia from BelMo real estate group.
The portfolio offers a total rental space area of approx. 10.000 sqm on a total property size of approx. 31.337 sqm. Tenants are established companies in the retail sector such as REWE and Edeka.
The acquisition was made by way of a share and an asset deal. The parties agreed not to disclose the purchase price, which was financed by Stadtsparkasse Düsseldorf.
DIWG group as exclusive partner of Abinger group initiated the acquisition, collaborated in the due diligence and will be the future asset manager of the real estate portfolio.
The comprehensive real estate and finance legal advice for the purchaser was provided by the global law firm Reed Smith, led by Dr Etienne Richthammer. The legal advice in connection with the negotiation and conclusion of the sale and purchase agreement for BelMo group was performed by the Düsseldorf real estate law firm Rotthege Wassermann.
About Reed Smith
Reed Smith is a global relationship law firm with more than 1,700 lawyers in 26 offices throughout the United States, Europe, Asia and the Middle East. Founded in 1877, the firm represents leading international businesses, from Fortune 100 corporations to mid-market and emerging enterprises. Its lawyers provide litigation and other dispute resolution services in multi-jurisdictional and other high-stakes matters; deliver regulatory counsel; and execute the full range of strategic domestic and cross-border transactions. Reed Smith is a preeminent advisor to industries including financial services, life sciences, health care, advertising, entertainment and media, shipping and transport, energy and natural resources, real estate, manufacturing and technology, and education. For more information, visit reedsmith.com.
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