Allianz sells real estate portfolio for EUR 400 million to PATRIZIA Immobilien AG with CMS support

Stuttgart – Allianz Real Estate Germany GmbH has sold a portfolio comprising nine office and commercial properties to an institutional fund managed by PATRIZIA Immobilien AG. The purchase price is more than EUR 400 million. The properties are located in Düsseldorf, Frankfurt, Hamburg, Hanover, Munich and Stuttgart, with leasable space of between 2,800 and 38,000 sq m. The real estate portfolio includes the Sprinkenhof building in the Kontorhaus district of Hamburg.

A team headed by lead partner Dr Volker Zerr and lead counsel Dr Simon Marschke advised Allianz on all real estate, corporate law and competition-related aspects of the sale. The transaction took the form of a mixed asset and share deal. CMS Germany regularly advises Allianz Real Estate Germany on real estate and financing transactions, including the acquisition of the "Haus an der Wien", the buy-back of the Group’s "Haus 1" headquarters building in Unterföhring, the acquisition of Swiss Re’s former head office in Unterföhring and the refinancing of the Königsbau Passagen shopping mall.

Allianz Real Estate Germany is responsible for real estate investment and asset management by the Allianz companies in Germany, Austria, Eastern Europe and Scandinavia, and manages a real estate portfolio with a market value of around five billion euros. It is a subsidiary of Allianz Real Estate, which forms the strategic umbrella for Allianz’s worldwide real estate investments. The nine office buildings are being sold as part of Allianz Real Estate Germany's buy-manage-sell strategy with the aim of ensuring balanced diversification of the portfolio.

CMS Hasche Sigle

Dr Volker Zerr, Lead Partner
Dr Simon Marschke, Lead Counsel
Dr Carsten Giersch, Counsel
Dr Franziska Rösch
Dr Jacqueline Terhöven, both Senior Associates
Maximilian Oberwittler, Associate, all Real Estate & Public – RealInvest

Dr Maximilian Grub
Dr Kai-Guido Schick, both Partners
Dr Sabina Krispenz
Dr Matthias Wenzel, both Senior Associates, all Corporate

Dr Christian Haellmigk, Partner, Competition

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