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CMS advises Art-Invest Real Estate on acquisition of Listhaus in Leipzig

09/07/2019

Cologne/Düsseldorf – Property investor Art-Invest Real Estate has acquired the Listhaus building on Friedrich-List-Platz in Leipzig for one of its investment funds. The seller of the office building, which is located in the immediate vicinity of the main railway station, is a closed-ended fund operated by Real I.S. Details of the transaction were not disclosed.

A CMS team headed by partner Dr Malte Bruhns and Philipp Schönnenbeck advised Art-Invest Real Estate on legal and tax aspects of the deal. In addition to legal and tax due diligence, the advice included drafting and negotiating the purchase agreement. Due to the large number of tenancy agreements associated with the property, the team deployed Kira machine learning software to analyse the contracts quickly and efficiently. The team also drew on the firm’s in-house Smart Operations unit. This multi-location team of commercial lawyers uses proprietary legal tech tools to handle due diligence processes and similar auditing and valuation tasks. The transaction marks the third acquisition of a commercial property by Art-Invest Real Estate on which the CMS team has advised.

The six-storey Listhaus complex consists of a renovated older building and an adjoining new office block in downtown Leipzig. Around 34,500 sq m are dedicated to office and retail space, with a further 4,500 sq m of rental space used for residential units. Art-Invest Real Estate is an investor, asset manager and property developer. Its focus is on the metropolitan regions of Germany, Austria and the UK. The Cologne-based company was established in 2010 by its managing partners and the Zech Group. Since 2012, 18 investment funds for institutional investors such as pension funds and foundations have already been launched via the company’s own investment management company. Art-Invest Real Estate currently manages total real estate assets worth around EUR 6 billion.

CMS Germany

Dr Malte Bruhns, Partner, Corporate/M&A
Philipp Schönnenbeck, Counsel, both Lead
Dr Christoph Grenz, Counsel
Dr Benjamin Schirmer, Counsel
Gerd Schmidt, Of Counsel
Dr Julius Städele, Senior Associate
Rune Weltz, Associate
Darina Baltadjieva, Legal Consultant, all Real Estate & Public
Tobias Schneider, Partner
Paul Volkwein, Paralegal, both Tax
Dr Markus Pfaff, Partner, Banking & Finance
Akyel Hatice, Associate, Banking & Finance
Alexander Borchers, Senior Legal Consultant
Stephanie Schulz, Legal Consultant, both Smart Operations

Press Contact
presse@cms-hs.com 

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