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We can help with your public law matters

Our specialised team has many years of experience in advising investors, companies and the public sector on all practical aspects of issues relating to public law. We consider commercial aspects as well as the technical/scientific circumstances and requirements when handling projects and transactions.

Our "Public" service portfolio

  • Licensing and planning permission procedures
  • Environmental law advice
  • Project development, public planning and construction law
  • Procurement law for bidders or contracting bodies
  • Advice on administrative law for trade and industry
  • Advice on transactions and restructuring
  • Public private partnerships and privatisation
  • Advice on foreign tradePolitical consulting
  • Compliance and crisis management
  • Representation in litigation and verification procedures

How our expertise can help you

We can help you to structure complex public law procedures such as procurement procedures and planning and licensing proceedings in a legally secure way, implement them efficiently and complete them successfully. We identify risks in advance, offer solutions and support you in your communication with project participants.

We are very accustomed to working closely and constructively with experts from other fields, such as planners, engineers and other specialists, as well as with banks and authorities.

This avoids costly court cases and enables you to plan your investment with certainty. If required, we can represent your interests in court, drawing on our extensive litigation experience.

What others say about us

"Recommended practice for restructuring and transactions in the public sector."
(JUVE, 2011/2012)

"The scope of the advice it provides is impressive, both in relation to the wide range of sectors covered, such as energy, chemicals, water and port traffic, and the size of the projects."
 (JUVE, 2010/2011)

"The strengths of the frequently recommended practice include handling several major projects with long timelines."
 (JUVE, 2009/2010)


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14/06/2022
CMS European Real Es­tate Deal Point Study 2022
Real es­tate in­vest­ment mar­kets re­main stable whilst buy­ers con­tin­ue to catch up in con­trac­tu­al risk al­loc­a­tion Lo­gist­ics as­sets more pop­u­lar than ever­De­mand from in­ter­na­tion­al in­vestors reaches re­cord high ac­count­ing for 55% of deals, with most in­ter­na­tion­al in­vestors still be­ing from with­in Europe­In­creased de­sire for se­cur­ity on the part of sellers con­tin­ued to be a fea­ture in 2021: share of trans­ac­tions in which the buy­er­'s pay­ment ob­lig­a­tions are se­cured reaches an­oth­er re­cord high­Buy­er-friendly trend in con­trac­tu­al risk al­loc­a­tion con­tin­ues as seller-friendly pro­vi­sions on lim­it­a­tion of li­ab­il­ity con­tin­ue to de­clineThe European real es­tate in­vest­ment mar­ket ap­pears to have largely re­covered from the con­sequences of the COV­ID-19 pan­dem­ic in 2021. Com­pared to the pan­dem­ic-stricken pre­vi­ous year, total in­vest­ment in­creased by around 15% to ap­prox­im­ately EUR 270 bil­lion, mark­ing a re­turn to the pre-crisis level.Lo­gist­ics as­sets per­formed par­tic­u­larly well last year, hav­ing be­come the fo­cus of in­vestors’ at­ten­tion due to their stable in­come flows and the on­go­ing growth of on­line shop­ping. De­mand from in­ter­na­tion­al in­vestors was also up again in 2021, with in­tra-European trans­ac­tions be­ing the rule. 2021 also brought a new re­cord high in the num­ber of trans­ac­tions in which the buy­er­'s pay­ment ob­lig­a­tions were se­cured. With re­gard to con­tract design, the buy­er-friendly trend con­tin­ued, as re­flec­ted es­pe­cially by a de­crease in de min­imis and bas­ket clauses as well as caps. Lo­gist­ics as­sets more pop­u­lar than ever Of­fice prop­er­ties were a pop­u­lar as­set class in 2021 des­pite all the un­cer­tainty sur­round­ing the COV­ID-19 pan­dem­ic, al­though some mar­ket share was lost to lo­gist­ics and res­id­en­tial. The slight down­ward trend in of­fice trans­ac­tions handled by CMS seen in pre­vi­ous years non­ethe­less con­tin­ued, with their share de­clin­ing from 30% in 2020 to 19%. The reas­on for the de­clin­ing pro­por­tion of trans­ac­tions in the of­fice seg­ment is likely to be two-fold, com­bin­ing the lack of avail­able core prop­er­ties and the cur­rent un­cer­tainty around the im­pact of hy­brid ways of work­ing on de­mand for of­fice space.The res­id­en­tial and lo­gist­ics as­set classes on the oth­er hand were es­pe­cially pop­u­lar in 2021, each with a mar­ket share of 23%, com­pared to 22% and 19% re­spect­ively in 2020. One of the key factors for this trend was the stable in­come gen­er­ated by res­id­en­tial and lo­gist­ics prop­er­ties, which is par­tic­u­larly at­tract­ive to in­vestors. Lo­gist­ics as­sets ad­di­tion­ally be­nefited from the on­go­ing growth of on­line shop­ping, which was boos­ted re­cently by the COV­ID-19 pan­dem­ic and the re­lated clos­ure of re­tail shops, lead­ing to an in­creased need for de­liv­ery and dis­tri­bu­tion centres. High de­mand from in­ter­na­tion­al, mostly in­tra-European, in­vestors In­ter­na­tion­al in­vestors were more act­ive again last year: they ac­coun­ted for 55% of deals in 2021, com­pared to 43% in 2020. In 2020, in­ter­na­tion­al in­vestors had a dif­fi­cult time, not least due to the im­pact of the COV­ID-19 pan­dem­ic. The as­so­ci­ated travel re­stric­tions meant that many in­ter­na­tion­al in­vestors from oth­er con­tin­ents were forced to post­pone their planned trans­ac­tions. The prop­erty mar­ket seems to have re­covered from these ef­fects last year, with a new re­cord 55% of trans­ac­tions in­volving for­eign in­vestors. However, these for­eign in­vestors were mostly from with­in Europe; the num­ber of in­ter­con­tin­ent­al trans­ac­tions re­mained be­low pre-pan­dem­ic levels in 2021. Sellers seek se­cur­ity An in­creased de­sire for se­cur­ity on the part of sellers con­tin­ued to be a fea­ture in 2021. The share of trans­ac­tions in which steps were taken to en­sure that the buy­er met its fin­an­cial ob­lig­a­tions rose fur­ther in 2021. Sellers were gran­ted se­cur­ity in more than two thirds of cases (70%). This trend is con­sist­ent with 2020, when an in­creased de­sire for se­cur­ity on the part of sellers was already ap­par­ent. In con­trast, se­cur­ity was agreed in less than 50% of all trans­ac­tions in the peri­od from 2015 to 2018. The cur­rent high level is due in part to an in­creased de­sire for se­cur­ity on the part of sellers as a res­ult of the COV­ID-19 pan­dem­ic; they were of­ten un­cer­tain about the buy­er’s solvency go­ing for­ward. Buy­ers con­tin­ue to catch up in con­trac­tu­al risk al­loc­a­tion Buy­ers were able to catch up fur­ther in terms of con­trac­tu­al risk al­loc­a­tion. The pro­por­tion of trans­ac­tions with seller-friendly de min­imis clauses and bas­ket clauses (i.e. clauses that provide for a threshold or min­im­um lim­it for guar­an­tee claims by the buy­er) stag­nated or de­clined some­what com­pared with the pre­ced­ing years. In the pre­vi­ous year, after a no­tice­able de­cline, agree­ments aimed at lim­it­ing li­ab­il­ity were made in 44% (de min­imis clauses) and 41% (bas­ket clauses) of cases. The share of deals with a bas­ket clause fell fur­ther to 32% in 2021. As in 2020, a de min­imis clause was in­cluded in 44% of the trans­ac­tions ana­lysed. A sim­il­ar trend was seen in con­trac­tu­ally-agreed li­ab­il­ity caps. Whilst the pro­por­tion of trans­ac­tions with a cap was well over 60% in some cases in the years up to 2018, the per­cent­age of agree­ments with a con­trac­tu­ally-agreed max­im­um li­ab­il­ity fell slightly from 56% in 2020 to 50%.
12/2021
2021 traffic-light co­ali­tion – Im­pact of the co­ali­tion agree­ment
The “traffic-light” co­ali­tion com­pris­ing the SPD, the Greens and the FDP has now presen­ted its co­ali­tion agree­ment for the peri­od 2021 to 2025 in Ber­lin. The tri­part­ite al­li­ance is aim­ing to trans­form the so­cial mar­ket eco­nomy in­to a so­cial-eco­lo­gic­al mar­ket eco­nomy by fo­cus­ing on cli­mate and di­git­al­isa­tion is­sues. At the press con­fer­ence, the in­com­ing gov­ern­ment de­scribed it as the most ex­tens­ive mod­ern­isa­tion of the eco­nomy for more than a hun­dred years. We set out be­low how this is to be achieved, the op­por­tun­it­ies arising for your com­pany and the top­ics you need to be par­tic­u­larly aware of.
12/2021
Co­ali­tion agree­ment: Green light for the real es­tate in­dustry?
Ger­many’s new traffic-light co­ali­tion is tak­ing shape. How will it af­fect the real es­tate in­dustry?
19/04/2021
CMS European Real Es­tate Deal Point Study 2021
The COV­ID-19 pan­dem­ic has left its mark on the European in­vest­ment mar­ket. In­vest­ment volumes were around 23% lower than in the pre­vi­ous year, 2019, with its re­cord per­form­ance. Buy­ers fo­cused primar­ily on prop­er­ties with stable in­come and those only min­im­ally af­fected by the pan­dem­ic. The num­ber of trans­ac­tions in which steps were taken to en­sure the buy­er met its fin­an­cial ob­lig­a­tions was at a re­cord high. The trend to­wards more buy­er-friendly ar­range­ments con­tin­ued. Those are the key find­ings of the CMS European Real Es­tate Deal Point Study 2021.For the latest edi­tion of this sur­vey of the European real es­tate trans­ac­tion mar­ket, in­ter­na­tion­al com­mer­cial law firm CMS sys­tem­at­ic­ally as­sessed and eval­u­ated more than 1,900 real es­tate agree­ments on which it ad­vised in coun­tries across Europe from the be­gin­ning of 2010 to the end of 2020.The key find­ings:In­vestors fo­cus on stable in­comeThe COV­ID-19 pan­dem­ic led to a change in in­vestor in­terest in the in­di­vidu­al as­set classes. Buy­ers fo­cused primar­ily on prop­er­ties with stable in­come and those that were only min­im­ally af­fected by the pan­dem­ic. Lo­gist­ics and res­id­en­tial prop­er­ties were es­pe­cially pop­u­lar.Of­fice real es­tate re­mained the strongest as­set class in Europe, but its share of the mar­ket fell to a re­cord low of 30%. De­mand for re­tail prop­er­ties re­mained at a con­sist­ently low level (15%). Lo­gist­ics real es­tate per­formed par­tic­u­larly well, post­ing a rise to 19% , a new re­cord. The pro­por­tion of in­vest­ment go­ing in­to spe­cial­ist prop­er­ties such as ho­tels fell sig­ni­fic­antly (14%). Res­id­en­tial real es­tate proved pop­u­lar with in­vestors, with its share rising to 22%.Sellers tak­ing steps to en­sure that buy­ers meet their fin­an­cial ob­lig­a­tionsDur­ing the pan­dem­ic, an in­creased need for se­cur­ity on the part of sellers was ap­par­ent. The pro­por­tion of trans­ac­tions in which steps were taken to en­sure the buy­er met its fin­an­cial ob­lig­a­tions rose to a re­cord high of 64%. In pre­vi­ous years, se­cur­ity was agreed in less than 50% of all trans­ac­tions.This high level is due to the in­creased de­sire for se­cur­ity on the part of sellers as a res­ult of the pan­dem­ic; they were of­ten un­cer­tain about the buy­er’s solvency go­ing for­ward. As a means of provid­ing se­cur­ity, both bank guar­an­tees (17%) and a not­ary’s es­crow ac­count (10%) be­came less pop­u­lar. In many cases, in con­trast, the buy­er made an ad­vance pay­ment (29%). In 9% of trans­ac­tions, use was made of sub­mis­sion to im­me­di­ate en­force­ment.Risk al­loc­a­tion in con­tracts: buy­ers catch­ing up in a seller-friendly mar­ket­Buy­ers were able to strengthen their po­s­i­tion fur­ther in 2020 with re­gard to risk al­loc­a­tion in con­tracts. In a mar­ket en­vir­on­ment that re­mained very seller-friendly, they suc­ceeded in ob­tain­ing fa­vour­able con­tract terms more of­ten than in pre­vi­ous years.As part of the war­ranty, guar­an­tees were again agreed more of­ten in fa­vour of buy­ers. The per­cent­age of agree­ments with in­di­vidu­al li­ab­il­ity pro­vi­sions in­creased to 75%. It was com­mon prac­tice to provide for both sub­ject­ive and ob­ject­ive guar­an­tees.The pro­por­tion of deals with seller-friendly lim­its on li­ab­il­ity, such as de min­imis and bas­ket clauses and caps, dropped slightly be­low the pri­or-year level in 2020. The up­ward trend seen over many years in agree­ments aimed at lim­it­ing li­ab­il­ity has thus been curbed some­what, while buy­ers were able to ne­go­ti­ate more fa­vour­able con­tract terms more of­ten than be­fore.Buy­ers also pre­pared ground with re­gard to the con­trac­tu­al pro­vi­sions on lim­it­a­tion peri­ods. An in­creas­ing num­ber of lim­it­a­tion peri­ods from 18 to 24 months were agreed in 2020, while there was a slight fall in the pro­por­tion of short lim­it­a­tion peri­ods of up to 18 months.Na­tion­al in­vestors more prom­in­entIn­t­er­na­tion­al in­vestors had a tough time in 2020. While in­ter­na­tion­al sellers have been re­spons­ible for the ma­jor­ity of deals since 2017, their per­cent­age dropped back down to 43% in 2020, with na­tion­al in­vestors be­com­ing more act­ive. Na­tion­al in­vestors ac­coun­ted for 48% of deals in 2018, while in 2020, 57% of real es­tate in­vest­ments were made by na­tion­al in­vestors.
24/02/2021
CMS ad­vises EnBW on in­vest­ment by Com­merz Real in port­fo­lio of 14 on­shore...
Stut­tgart – EnBW En­er­gie Baden-Württem­berg AG has sold 49.9% of the shares in a port­fo­lio com­pris­ing 14 on­shore wind farms with 47 wind tur­bines and total out­put of 133 MW to Com­merz Real’s Klimavest...
21/09/2020
Real Es­tate Re­set
From pan­dem­ic to pur­pose  As we wel­comed in a new year, the de­fin­ing is­sue of the next dec­ade looked set to be sus­tain­ab­il­ity. The rise of ESG – En­vir­on­ment, So­cial, Gov­ernance – was no flash in the pan; it was now a guid­ing prin­ciple for glob­al in­vestors and in­sti­tu­tions. Re­spond­ing to the cli­mate crisis was a pri­or­ity. And then COV­ID-19 changed everything.   Few would have pre­dicted quite how quickly the world would be turned up­side down by a glob­al pan­dem­ic, the like of which has not been seen for a cen­tury or more. The hu­man cost and in­di­vidu­al tra­gedies have been in­des­crib­able. The eco­nom­ic and so­cial im­pact un­pre­ced­en­ted. Cit­ies have be­come ghost towns. Mil­lions are work­ing from home, not of­fices. Re­tail, leis­ure and travel sec­tors have been par­tic­u­larly hard hit. And yet, in some ways, the events of 2020 have ac­cel­er­ated changes that were already gath­er­ing mo­mentum. For the real es­tate sec­tor there is now an op­por­tun­ity to re­set. For the first time, our re­search this year polls not only over 240 lead­ers across the real es­tate sec­tor, but over 1,500 seni­or of­fice oc­cu­pi­ers with de­cision mak­ing re­spons­ib­il­ity for prop­erty is­sues, and over 500 glob­al in­sti­tu­tion­al in­vestors. It takes a de­tailed look at mar­ket re­ac­tion to the pan­dem­ic and the last­ing im­pact it could have on the of­fice as­set class and the way in which we will ad­apt to our new work­ing en­vir­on­ment. We will also ex­plore real es­tate’s jour­ney from pan­dem­ic to pur­pose, as sus­tain­ab­il­ity and so­cial im­pact set the agenda for the sec­tor. This is our eighth an­nu­al re­port where we look to the fu­ture, ad­dress key is­sues fa­cing the real es­tate sec­tor and ex­plore mar­ket trends. We hope you en­joy read­ing it.
07/10/2019
CMS European Real Es­tate Deal Point Study 2019
Real es­tate in­vest­ment mar­ket flat­lining at a high level Total in­vest­ment re­mains at pre­vi­ous year’s level.In­vestors forced to re­vise their in­vest­ment pref­er­ences: of­fice real es­tate still ahead, but...
07/10/2019
CMS European Real Es­tate Deal Point Study 2019
A first glance sug­gests there were no ma­jor changes in the European in­vest­ment mar­ket in 2018, with the in­vest­ment volume be­ing roughly the same as in the pre­vi­ous year at around EUR 264bn. However...
29/04/2019
CMS ad­vises Lux­cara on ac­quis­i­tion of 750 MW on­shore wind farm pro­ject...
Ham­burg – As­set man­ager Lux­cara has ac­quired the Önus­ber­get wind farm pro­ject, which is part of the Markby­g­den 1101 cluster, from the de­veloper Svevind AB. The Önus­ber­get wind farm in north­ern Sweden...
26/04/2019
CMS ad­vises on sale of prop­erty port­fo­lio by Senioren-Wohnen Hold­ing to...
Co­logne – Senioren-Wohnen Hold­ing GmbH has sold a real es­tate port­fo­lio com­pris­ing twelve re­tire­ment homes to a sub­si­di­ary of French as­set man­age­ment com­pany Primo­ni­al. Five prop­er­ties are already op­er­a­tion­al...
15/12/2017
CMS ad­vises Cofin­immo Group on ac­quis­i­tion of two care home prop­er­ties...
Stut­tgart – Bel­gian group Cofin­immo is con­tinu­ing its ex­pan­sion strategy in Ger­many by adding two care home prop­er­ties to its health­care port­fo­lio in the coun­try via deals worth EUR 26.5 mil­lion.Cofin­immo...
04/10/2017
CMS European Real Es­tate Deal Point Study 2017
Strong de­mand for of­fice and re­tail prop­er­ty­In­crease in na­tion­al in­vestors in the European real es­tate mar­ket­Fre­quent agree­ment of seller-friendly pur­chase agree­ment pro­vi­sionsS­tut­tgart – The European...