July.05.2013
Valad Europe, Europe’s leading independent diversified real estate investment manager, has sold the business park Margaretha-Ley-Ring east of Munich to a private investor.
The estate, comprising 30,000 sqm and situated in close proximity to the site of the Munich trade fair, was developed in 1991 and underwent refurbishment and modernization in 2001 and 2005. Margaretha-Ley-Ring is popular with the fashion and clothing industry, with current tenants including Cecile Wedding Fashion, Ulla Popken and Schustermann & Borenstein (Best Secret).
With a team of 36 in Germany operating out of offices in Munich, Berlin, Frankfurt, Düsseldorf and Hamburg, Valad Europe manages approximately €650 million of assets and 650 tenants, occupying approximately 1.3 million sqm of space in Germany.
Orrick’s Real Estate team, led by Berlin partner Dr. Norbert Impelmann advised Valad on the legal matters of the transaction. He was supported by senior associates Dr. Jochen Beutel and Thomas Voss and associate Dr. Ruben Pisal.