Frankfurt/Main – Commerz Real AG has acquired the Millennium portfolio from Generali Lebensversicherung AG for its open-ended real estate fund Hausinvest. The portfolio comprises 49 office, residential and retail properties with a total rental area of over 352,000 square metres at central locations in German cities. The parties agreed not to disclose the purchase price. The billion euro transaction is the largest German real estate deal of the past ten years.
A CMS team headed by lead partner Heinrich Schirmer advised Commerz Real on all legal aspects of the transaction.
Wiesbaden-based Commerz Real AG is a Commerzbank Group company. With around 730 employees at its main locations in Wiesbaden and Düsseldorf along with 17 other branch offices in Germany and beyond, Commerz Real manages total assets of around EUR 33 billion. According to Commerz Real, the deal is the largest real estate transaction in the company’s history.
Heinrich Schirmer, Lead Partner
Philipp Schönnenbeck, Counsel
Dr Christoph Grenz, Counsel
Dr Franz Maurer, Associate
Tina Karakurt, Associate
Nicole Köppen, Associate, all Real Estate & Public
Dr Daniel Voigt, Partner
Dr Sebastian Sedlak, Senior Associate, both Investment Management
Stefan Lehr, Partner
Dr Tobias Sdunzig, Associate, both Competition & EU
Dr Jochen N. Schlotter, Partner, Corporate/M&A
Dr Thomas Link, Partner, Tax