GÖRG advised investment and asset manager PIER Investment Partner on the acquisition of two residential projects for a newly launched investment vehicle of a German supplementary pension fund.
The transactions have a total investment volume of over €70 million. The newly launched vehicle is managed by IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH.
In the district of Heilbronn, a residential project by Ten Brinke with a total of 60 flats, 47 of which are subsidised units, is being purchased. In addition, a project development by the ExklusivBau Group with 120 subsidised residential units was acquired in the district of Konstanz. Both projects have underground car parks and outdoor parking spaces and meet the KfW 40 standard. The transactions were each structured as forward deals.
Baden-Württemberg benefits from an attractive subsidy programme for residential construction and a robust economy dominated by small and medium-sized enterprises. The new buildings at both locations contribute to the creation of affordable housing for skil led workers in the region.
PIER Investment Partner, based in Frankfurt, is a real estate investment and asset management platform specialising in institutional investors with around €1.4 billion in assets under management.
GÖRG provided comprehensive legal support for the transactions with a team led by Frankfurt partner Dr Dennis Hog.
Advisors PIER Investment Partner
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr Dennis Hog ( Lead, Partner, Real Estate Law, Frankfurt am Main)
Dr Thomas Christner (Partner, Public Commercial Law, Cologne)
Cornelia Kinast (Partner, Tax, Munich)
Dr Nicolas Lang (Senior Associate, Real Estate Law, Frankfurt am Main)
Dr Lukas Lehrhuber (Senior Associate, Tax, Munich)
Niklas Fietz (Senior Associate, Public Law, Cologne)
