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CMS Hasche Sigle advises investor on IVG private placement for "European Headquarters of Hermes Logistik Group"

23/05/2011

Berlin – IVG Private Funds, one of the leading providers of closed-end property funds in Germany, has structured and successfully placed its first private placement. The private placement "European Headquarters of Hermes Logistik Group" is based on the property at Essener Bogen 1 in Hamburg, which is let to Hermes Logistik Gruppe Deutschland GmbH on a long-term lease.

A team from CMS Hasche Sigle led by real estate expert Dr Hermann Stapenhorst advised the sole investor in this private placement on the transaction, in conjunction with Bankhaus Sal. Oppenheim.

IVG is retaining a long-term minority stake in the property. In addition, IVG will be responsible for commercial management and asset management of the property over the coming years. Further details of the transaction were not disclosed.

The five-storey new build was developed by IVG and completed in spring 2010. The building comprises some 8,800 sq m of office space, 585 sq m of storage and a 460 sq m terrace, together with parking for 356 cars. The Hermes Logistik Group has been at this location since 1998 and also rents the neighbouring building.

Advisers CMS Hasche Sigle:

Dr Hermann Stapenhorst, Real Estate (Lead Partner)
Dr Andreas van den Eikel, Due Diligence, Real Estate
Jesko Nobiling, Corporate

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