Cologne/Düsseldorf – As the developer of the project, HOCHTIEF PPP Solutions has sold the new police headquarters in Aachen to a group of institutional investors. Construction was handled by HOCHTIEF Building. The property provides space for around 1,200 employees across more than 22,500 square metres. It has been leased to the Federal State of North Rhine-Westphalia for 20 years, with the option of an extension. The buyers are an AIF managed by Collineo Asset Management and Luxembourg-based Builders RE. A pension trust and a German pension scheme have invested indirectly in the AIF structure through a bearer bond and a promissory note loan. HOCHTIEF PPP Solutions retains a minority stake and will manage the property going forward.
A CMS team headed by Dr Malte Bruhns and Philipp Schönnenbeck advised HOCHTIEF PPP Solutions and Collineo Asset Management on all legal aspects of the transaction. The advice related in particular to designing the complex acquisition framework and structuring the bearer bond and promissory note loan, as well as aspects involving fund regulation, tax, finance and real estate law. CMS acted as transaction counsel on the deal. HOCHTIEF and Collineo Asset Management are both long-standing CMS clients.
CMS Germany
Dr Malte Bruhns, Partner, Corporate/M&A
Philipp Schönnenbeck, Counsel, Real Estate & Public, both Lead
Stephan Weling, Senior Associate
Dr Nora Zabel, Associate, both Corporate/M&A
Dr Tillman Kempf, Partner, Tax
Dr Daniel Voigt, Partner
Dr André Frischemeier, Counsel
Dr Sebastian Sedlak, Senior Associate, all Banking & Finance
Press Contact
presse@cms-hs.com
