CMS Advises Scannell Properties on the Sale of a Logistics Facility in Hollfeld
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Düsseldorf – International real estate developer Scannell Properties has sold a logistics facility in Hollfeld that it developed. The purchaser is an institutional investor. The parties have agreed not to disclose further details of the transaction.
Scannell Properties developed a cold-storage warehouse in Hollfeld for a food discount retailer. The property is used for interim storage and goods distribution and is leased on a long-term basis to an internationally active food discount retailer.
A CMS team led by Partner Philipp Schönnenbeck provided comprehensive legal advice to Scannell Properties throughout the transaction. The advice included, in particular, structuring and legally supporting the transaction, negotiating the purchase agreement through to its execution, and arranging the refinancing payoff.
As a long-term partner to Scannell Properties, CMS regularly supports the company with advisory throughout the investment cycle of its projects, particularly in the acquisition of land, project development and leasing, financing, and the subsequent disposal of logistics properties. CMS also provided legal support for the now-sold Hollfeld project during its development phase.
Scannell Properties is an internationally active, privately held real estate developer and investor headquartered in Indianapolis, USA. Founded in 1990, the company develops commercial real estate, particularly in the industrial and logistics sectors, and maintains offices throughout North America and Europe.
