GÖRG Advises on Sale of DuMont Carré in Cologne
[Cologne, ] Located in Cologne’s Breite Strasse pedestrian zone, the “DuMont Carré” was acquired from a closed real estate fund by EPISO 4 (European Property Investors Special Opportunities 4 L.P.), which was advised by Tristan Capital Partners and CONCEPTA Projektentwicklung GmbH. The Breite Strasse, one of Cologne’s most popular shopping venues, is conveniently located only a short subway ride away from the Cologne Cathedral and the main train station.
The DuMont Carré, which was revamped in 2014, was built on the site of the former editorial offices and printing plant of DuMont Mediengruppe, whose daily newspapers Kölner Stadt-Anzeiger and EXPRESS were known throughout the country. The DuMont Carré includes the shopping centre with the same name, which has approximately 20,000 sq. m. of retail floor space and an underground garage with approximately 670 parking spaces. The upper stories also house approximately 9,000 sq. m. of office space and 129 modern downtown apartments, all of which are currently rented. Shopping centre tenants include Zalando, Woolworth, Fitness First and WDR as well as more than 20 domestic and international retailers.
The seller side was represented by the agents JLL and Tresono Family Office AG in the transaction, and a team from GÖRG Partnerschaft von Rechtsanwälten mbB headed by Cologne partner Dr. Markus Heider provided the seller with legal advice. This team has also recently advised various other clients in connection with the acquisition and disposal of retail properties, including, for example, the sale of the FLORA-PARK shopping centre in Magdeburg and the Postgalerie in Speyer. The purchaser of the DuMont Carré was advised by Greenberg Traurig Germany LLP and pwc.
Advisors to the Seller
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Markus Heider, Dr. Wibke Schumacher, Dr. Wolf zur Nieden, Dr. Thomas Christner, Dr. Damian Tigges, Sarah Theus, Malik Djouah LL.M., Michael Winkelhog (all Cologne)
Jones Lang LaSalle SE
Sabine Keulertz, Michael Kobs (all Frankfurt/M.)
Tresono Family Office AG
Stephan Knichel, Daniel Hochmayr, Jana Timmer (all Cologne)
Advisors to the Purchaser
Greenberg Traurig Germany LLP
Dr. Peter Schorling, Dr. Sara Berendsen, Kathrin Peiffer, Alexandra Parascho (Berlin)
pwc PricewaterhouseCoopers GmbH
Josip Oreskevic-Rips, Tobias Jäckel, Alla Stürmer (Frankfurt/M.)