CMS advises GRR Group on acquisition of retail portfolio for around EUR 150 million

Stuttgart/Hamburg – The GRR Group has acquired a retail portfolio for around EUR 150 million on behalf of GRR German Retail Fund No. 3, a new investment fund for retail real estate. The portfolio comprises 42 properties at locations across nine German federal states. This is the largest portfolio the GRR Group has ever acquired for one of its real estate funds and also the biggest property purchase in the company’s history. The seller is an institutional special AIF. No further details of the deal were disclosed.

A multi-location CMS team headed by Dr Dirk Rodewoldt and Dr Sebastian Orthmann advised GRR on all legal and tax aspects of due diligence and the contract negotiations.

Nuremberg-based GRR Group is a group of companies specialising in retail properties in Germany, with a focus on investment and asset management. The company manages around 300 properties for various investors, comprising a total area of some 700,000 square metres and a value in excess of a billion euros.

GRR German Retail Fund No. 3 is the third open-ended special AIF to be launched by the GRR Group under the German Investment Code (Kapitalanlagegesetzbuch, KAGB). The intended fund size is some EUR 350 million, with planned equity of around EUR 200 million. Targeted at institutional investors, the fund is currently in the investment phase. It is structured as a special AIF and focuses on the “basic retail” segment. 

CMS Germany

Dr Dirk Rodewoldt, Partner
Dr Sebastian Orthmann, Partner, both Real Estate & Public, both Lead
Tobias Schneider, Partner, Tax Lead
Dr Carsten Giersch, Counsel
Katharina Haidas, Counsel
Dr Benjamin Schirmer, Counsel
Philipp Schönnenbeck, Counsel
Dr Christoph Grenz, Senior Associate
Dr Daniel Krey, Senior Associate
Stefanie Nagel, Senior Associate
Dr Martin Prothmann, Senior Associate
Friederike Rickers, Senior Associate
Florian Seelheim, Senior Associate
Felix Stoecker, Senior Associate
Jacqueline Terhöven, Senior Associate
Dr Katayun Zierke, Senior Associate
Michael Bach, Associate
Jessica Böttinger, Associate
Aylin Kocak, Associate
Katrin Pilgram, Associate
Dr Yasamin Rody, Associate
Sebastian Vollmer, Associate, all Real Estate & Public
Dr Michaela Ott, Senior Associate
Paul Volkwein, Paralegal, both Tax

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