CMS advises Allianz Real Estate on EUR 500 million joint venture with developer VGP

Stuttgart – Allianz Real Estate has formed a 50:50 joint venture with Europe-wide property group VGP to develop VGP Park Munich. In doing so, Allianz Real Estate is acting on behalf of several insurance companies in the Allianz Group. Once fully developed, the park will consist of five logistics buildings, two free-standing multi-storey car parks and an office building with a total rental area of some 270,000 square metres.

A CMS team headed by lead partner Dr Volker Zerr and lead principal counsel Dr Sabina Krispenz advised Allianz Real Estate on all aspects of real estate, corporate, regulatory and competition law in regard to the transaction.

The park is pre-let to Krauss Maffei Technologies and BMW. Three buildings and the two multi-storey car parks are currently under construction. Completion of the first building is scheduled for August. All the other buildings are to be handed over by November 2022, apart from one, which will be finished at the start of 2026.

Allianz Real Estate is the strategic real estate investment manager within the Allianz Group. It describes itself as currently the world’s largest investor in property. The company develops and implements tailored portfolio and investment strategies on behalf of liability-oriented investors worldwide, including Allianz companies. According to the company’s own figures, Allianz Real Estate had assets under management totalling EUR 73.6 billion as at 31 December 2019.

CMS Germany

Dr Volker Zerr, Lead Partner
Dr Martin Prothmann, Counsel
Aylin Kocak, Senior Associate
Dr Elena Mackh, Senior Associate
Sandra Scheib, Senior Associate, all Real Estate
Dr Maximilian Grub, Partner
Dr Sabina Krispenz, Lead Principal Counsel
Dr Tobias Will, Senior Associate, all Corporate/M&A
Dr Winfried Schnepp, Partner, Regulatory
Dr Christian Haellmigk, Partner
Alexander Rittmann, Associate, both Competition & EU

Inhouse Legal at Allianz

Lara Sprenger
Dr Stefanie Almeling

Press Contact
presse@cms-hs.com