Home / People / Dr. Volker Zerr
Portrait of Volker Zerr

Dr. Volker Zerr, FRICS

Partner
Rechtsanwalt

CMS Hasche Sigle
Schoettlestraße 8
70597 Stuttgart
Germany
Languages English, French, German

Volker Zerr advises national and international companies and investors on real estate transactions and financing as well as on commercial leases. His practice includes all aspects of construction and architects law, with particular expertise in drafting contracts, warranty management and providing comprehensive legal advice during the construction phase. Furthermore, Volker regularly represents his clients in court and arbitration proceedings.

Prior to joining CMS in 1999 and becoming a partner in 2005, he worked as an in-house lawyer in the legal department of Allianz Lebensversicherung-AG. Alongside his legal practice, Volker teaches at two German real estate industry training institutions: the International Real Estate Business School and the Akademie der Immobilienwirtschaft (ADI).

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"Volker Zerr wins praise from a client for being an 'extremely strong negotiator with a pragmatic approach.'"

Chambers Europe, 2021

"Recommended" for Real Estate

JUVE German Commercial Law Firms 2015-2021 (GCLF)

"strong performer", "very competent, confident negotiator, pleasant working relationship" (competitor)

JUVE German Commercial Law Firms 2020 (GCLF)

Leading individual Real Estate

Chambers Europe, 2020

"Sources speak highly of him, with one client valuing his ‘good service and high level of technical competence.’"

Chambers Europe, 2019

"strong performer", "very competent, confident negotiator, pleasant working relationship" (competitor)

JUVE German Commercial Law Firms 2020 (GCLF)

"highly experienced, efficient and motivated"; "very good negotiation skills."

Chambers Europe, 2018

„Weitere Schlüsselfiguren der Praxis sind Volker Zerr in Stuttgart und Heinrich Schirmer in Frankfurt, die beide ‘auf sehr gutem fachlichen Niveau und sehr zuverlässig arbeiten’.“

The Legal 500 Deutschland, 2018

"his team delivers superb quality and always within the agreed, often short, time frame" (client)

JUVE German Commercial Law Firms 2018 (GCLF)

"very friendly, strong expertise" (competitor)

JUVE German Commercial Law Firms 2018 (GCLF)

"Volker Zerr has the talent to make complex legal issues easy to understand." (client)

Chambers Europe, 2017

Recommended for Real Estate

Who's Who Legal 2017

"Recommended"

JUVE German Commercial Law Firms 2017 (GCLF)

„sehr bewährt in der Leitung größerer, internationaler Teams“

The Legal 500 Deutschland, 2017

„Ergebnisorientierter u. pragmatischer Verhandlungspartner; sehr angenehm“

JUVE German Commercial Law Firms 2017 (GCLF)

"excellent negotiation strength based on a profound knowledge and understanding of the German market"

Chambers Europe, 2016

"a very good transactional lawyer with an excellent commercial understanding deals"

Chambers Europe, 2016

"Recommended"

JUVE German Commercial Law Firms 2016 (GCLF)

"very good industry knowledge"

The Legal 500 EMEA, 2015

"outstanding, pragmatic lawyer with a very good team, reliable and keeps to schedules" (client)

JUVE German Commercial Law Firms 2015 (GCLF)

Relevant experience


  • Allianz Real Estate | Advising Allianz Real Estate GmbH on the acquisition of the Kap West project development in Munich, the sale of a real estate portfolio to Patrizia (volume: more than EUR 400 million), the acquisition of “Haus an der Wien” (volume: EUR 94 million) and the acquisition of “The Icon Vienna” landmark office building at Vienna’s new central railway station from SIGNA Development Selection AG (volume: more than EUR 500 million), the acquisition of the NM28 office building in Munich from Bertelsmann in a sale-and-lease-back transaction (volume: EUR 214 million).
  • Savills Investment Management | Advising Savills Investment Management on the acquisition of different properties (“Bertha-Berlin“, “Lister Dreieck“ in Hanover, “Dortmunder U“ in Dortmund, volume: EUR 300 million) and on the sale of a real estate portfolio to Patrizia (volume: EUR 320 million)
  • Ferdinand Piëch Holding | Advising Ferdinand Piëch Holding on the acquisition of the Hindenburgbau, a listed office and retail complex in Stuttgart; volume: EUR 101 million
  • LBBW | Advising LBBW on the sale of the Haerder-Center in Luebeck and the sale of the “N1” commercial property in Mannheim
  • Baden-Württemberg Stiftung | Advising state-owned foundation Baden-Württemberg Stiftung on the acquisition of the Mercedes-Benz Bank building in Stuttgart
  • Allianz Real Estate | Advising Allianz Real Estate Germany on the sale of the “Bremer Carrée” retail property to a joint venture
  • Allianz Real Estate | Advising Allianz Real Estate Germany on the sale of a portfolio comprising nine office and commercial properties to Patrizia (purchase price: approx. EUR 420 million)
  • Allianz Real Estate | Advising Allianz Real Estate Germany on the acquisition of an office development project from OFB in Munich (share deal)
  • Allianz Real Estate | Advising Allianz Real Estate Germany on the financing and refinancing of numerous projects in various European countries, e.g., CentrO Oberhausen, Deutsche Bank Türme, Gropius Passagen Berlin, Königsbaupassagen Stuttgart or Alsterarkaden Hamburg (volume: over EUR 1,5 billion)
  • Württembergische Lebensversicherung AG | Advising Württembergische Lebensversicherung AG on the acquisition of the Skyline Living high rise in Stuttgart from Hines
  • Argon (Piëch Group) | Advising Argon (Piëch Group) on the acquisition of a property portfolio in Mannheim from LBBW
  • Credit Suisse | Advising Credit Suisse on the acquisition of an office building in Stuttgart
  • Commerzbank | Advising Commerzbank on the sale of the entire property portfolio of the transferred Aberdeen and Credit Suisse real estate funds in Germany, Italy, the Netherlands, Finland, UK, Romania and Croatia (volume: more than EUR 500 million)
  • Württembergische Lebensversicherung AG | Advising Württembergische Lebensversicherung AG on the acquisition of a portfolio of retail parks in Dortmund and Mannheim from RUDU Verwaltungsgesellschaft mbH

BÜLOW AG | Advising Bülow AG on the sale of a completed office building, and a hotel building in Stuttgart Vaihingen which is still to be completed. Advice on real estate law provided to Bülow AG on the sale of both properties to Deka Immobilien Investment GmbH.

Allianz Real Estate | Advising Allianz Real Estate on the sale of the "KÖ 35" office and commercial building in a prime central location to the Stuttgart-based project developer, W2 Development GmbH, and the Munich-based investment specialist, Competo Capital Partners.

Savills Investment Management | Advising Savills Investment Management on the acquisition of parts of the Marienzeile in Nuremberg. Advising Savills Investment Management on the acquisition of the Wilhelm and Maximilian office buildings on Bahnhofstrasse from Aurelis Real Estate.

Savills Investment Management | Advising Savills Investment Management on the acquisition of the "Wagnergebäude 88.0" office building in the north of Munich as an asset deal. The sole tenant of the six-storey office building comprising a leased area of 16,200 m² is BMW.

Württembergische Lebensversicherung AG | Advising Württembergische Lebensversicherung AG on the sale of the local "Eppendorfer Center" for EUR 103 million to the Hahn Group. The property in the Hamburg district of Eppendorf will become part of one of Hahn's special real estate funds.

Württembergische Lebensversicherung AG | Advising Württembergische Lebensversicherung AG on the sale of one of the largest specialist retail centres in Munich with an overall leased area of approx. 16,500 m² in Stockacher Strasse to MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH.

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Memberships & Roles


  • Royal Institution of Chartered Surveyors (MRICS)
  • Vorsitzender des Prüfungsausschusses "Fachanwalt für Bau- und Architektenrecht" der Rechtsanwaltskammer Stuttgart
  • American Bar Association
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Publications


  • „Das Jahr der dicken Gewerbedeals“, Immobilien Zeitung vom 07.02.2019, Zitate aus einem Interview.
  • "Zunehmende Risikofreude bei Immobilieninvestoren – Ergebnisse der CMS Real Estate Deal Point Study 2014", Zeitschrift für Immobilienrecht (ZfIR) Volume 18, Issue 17 – 18/2014, p. 665 – 673
  • Co-author in the handbook "Immobilienökonomie II, Rechtliche Grundlagen, 3. aktualisierte und erweiterte Auflage", p. 294 – 349, 2013, Oldenbourg Verlag München, ISBN 978-486-71359-6, published by Schulte, Kühling, Servatius und Stellmann
  • "Was bei der Finanzierung machbar ist und wie man sie erhält - Experteninterview" (http://www.immobilien-zeitung.de/1000016268/was-bei-finanzierung-machbar-ist-und-wie-man-erhaelt)
  • Deutsche Immobilien-Platzhirsche dominieren die Top-Lagen, The Wall Street Journal (http://www.wallstreetjournal.de/article/SB10001424127887323993804578618124020626646.html?mod=googlenews_wsjde), 22.07.2013
  • CMS Real Estate Deal Point Study 2012, Zeitschrift für Immobilienrecht (ZfIR) 17. Jahrgang, Heft 7, p. 255 – 262
  • Grundstückskaufvertrag – Haftungsausschluss bei zwischen Angebot und Annahme auftretenden Mängeln,Zeitschrift für Immobilienrecht (ZfIR) 16. Jahrgang, Skript 22, 19. November 2012, p. 817–822
  • Markterholung bei Immobilientransaktionen – Aktuelle Ergebnisse der CMS Real Estate Deal Point Study 2011, ZfIR 3 2012, p. 106-112
  • Vertragsklauseln bei Immobilientransaktionen - Ergebnisse der CMS Real Estate Deal Point Study 2010, Zeitschrift für Immobilienrecht, RWS Verlag 2011, p. 214-221
  • Managementleistungen im Lebenszyklus von Immobilien, Vermarktungsmanagement, ISBN 978-3-519-00528-5, Teubner-Verlag 2007, Der Projektsteuerungsvertrag, Herausgeber: Viering, Liebchen, Kochendörfer
  • Der VOB/B-Vertrag, Höchstrichterliche und obergerichtliche Rechtsprechung und Folgerungen für die Praxis, Zeitschrift für Immobilienrecht, RWS-Verlag, Skript 345, 1. Auflage 2005
  • Gesamtschuldverhältnisse im Bauwesen, NZBau 2002
  • Auswirkungen des neuen Verbraucherkreditrechts auf Immobiliendarlehensverträge, Stuttgarter Zeitung 2002
  • Risikomanagement in der Bauindustrie, Börsen-Zeitung 2000
  • Der Streitgegenstand im Wettbewerbsprozess (Diss.), 1996
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Lectures list


  • Lecture at the IREBS Immobilienakademie „Legal and Tax Due Diligence“, 22.01.2021
  • Lecture at the IREBS Immobilienakademie, „Legal Due Diligence“, 13.01.2020
  • Lecture at the IREBS Immobilienakademie, 15.01.2020
  • Lecture at the IREBS Immobilienakademie, 16.01.2019
  • Lecture at the IREBS Immobilienakademie, 17.01.2018
  • Lecture at the IREBS Immobilienakademie, 18.01.2017
  • Presentation held at 8th Real Estate Dialogue for the Stuttgart region entitled "Transactions: What are investors realistically able to negotiate?", 07.07.2015
  • Lecture at the IREBS Immobilienakademie, 21.01.2015
  • Lecture at the International Real Estate Business School on 25.07.2014
  • CMS Real Estate Deal Point Study 2014: The increasing willingness of real estate investors to take risks!, 08.04.2014
  • The pitfalls of renting office premises, Jones Lang LaSalle, 15.05.2014
  • Lecture at the IREBS Immobilienakademie, 23.10.2013
  • Lecture at the IREBS Immobilienakademie, 13.06.2013
  • Can German real estate help to safely manoeuvre through the Euro crisis? – Current developments on the real estate market, 29.11.2012
  • Lecture at the IREBS Immobilienakademie, 15.11.2012
  • Lecture at the IREBS Immobilienakademie, 24.10.2012
  • Lecture at the IREBS Immobilienakademie, 11.08.2012
  • Lecture at the IREBS Immobilienakademie, 20.07.2012
  • Lecture at the IREBS Immobilienakademie, 12.01.2012
  • New Developments in a strong real estate market - current developments, 30.11.2011
  • Lecture at the IREBS Immobilienakademie, 18.11.2011
  • Lecture at the IREBS Immobilienakademie, 06.08.2011
  • Lecture at the IREBS Immobilienakademie, 11.05.2011
  • The boom in the real estate market – current developments, 16.11.2010
  • Lecture at the IREBS Immobilienakademie, 12.11.2010
  • Lecture at the IREBS Immobilienakademie, 15./16.07.2010
  • Case studies on distress sales, Property Lunch, 19.11.2009
  • Pressure in the real estate market – safeguarding earnings by effective contract management, LHS Stuttgart, Stabsabteilung Wirtschaftsförderung, 24.06.2009
  • Pressure in the real estate market – how to safeguard earnings and minimise insolvency risks, CMS Stuttgart RICS , 31.03.2009
  • The German Debt Recovery Act (Forderungssicherungsgesetz), IHK Ulm, 25.11.2008
  • Particularities on German real estate law and commercial lease law, CMS Cameron McKenna, London, 28.09.2006
  • Particularities on German real estate law and commercial lease law, CMS Bureau Francis Lefebvre, Paris, 04.04.2006
  • Talk in connection with the commercial law forum of the IHK Ulm on "Advantage of Location Law", 18.11.2005
  • Liability of engineers and architects: How can liability risks be restricted for planning work? Information forum of UNITA Unternehmensberatung GmbH, Stuttgart, 13.07.2005
  • Course for lawyers specialising in construction and architect's law for the Forum-Institut für Management, Mannheim, 25.05. to 27.05.2005
  • Current case law on commercial lease law, seminar for the Royal Institution of Chartered Surveyors, 04.05.2004
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Education


  • 1997: Second state examination in law
  • 1996: PhD
  • 1994: First state examination in law
  • 1990 - 1997: Law studies and trainee lawyer in Munich
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Tuesday, 20 April 2021
Pan­dem­ic leaves its mark on European real es­tate in­vest­ment mar­ket
COV­ID-19 pan­dem­ic leads to change in in­vestor in­terest in the in­di­vidu­al as­set classes – lo­gist­ics and res­id­en­tial prop­er­ties es­pe­cially pop­ularIn­creased de­sire for se­cur­ity on part of sellers: re­cord...
19 April 2021
CMS European Real Es­tate Deal Point Study 2021
The COV­ID-19 pan­dem­ic has left its mark on the European in­vest­ment mar­ket. In­vest­ment volumes were around 23% lower than in the pre­vi­ous year, 2019, with its re­cord per­form­ance. Buy­ers fo­cused primar­ily on prop­er­ties with stable in­come and those only min­im­ally af­fected by the pan­dem­ic. The num­ber of trans­ac­tions in which steps were taken to en­sure the buy­er met its fin­an­cial ob­lig­a­tions was at a re­cord high. The trend to­wards more buy­er-friendly ar­range­ments con­tin­ued. Those are the key find­ings of the CMS European Real Es­tate Deal Point Study 2021.For the latest edi­tion of this sur­vey of the European real es­tate trans­ac­tion mar­ket, in­ter­na­tion­al com­mer­cial law firm CMS sys­tem­at­ic­ally as­sessed and eval­u­ated more than 1,900 real es­tate agree­ments on which it ad­vised in coun­tries across Europe from the be­gin­ning of 2010 to the end of 2020.The key find­ings:In­vestors fo­cus on stable in­comeThe COV­ID-19 pan­dem­ic led to a change in in­vestor in­terest in the in­di­vidu­al as­set classes. Buy­ers fo­cused primar­ily on prop­er­ties with stable in­come and those that were only min­im­ally af­fected by the pan­dem­ic. Lo­gist­ics and res­id­en­tial prop­er­ties were es­pe­cially pop­u­lar.Of­fice real es­tate re­mained the strongest as­set class in Europe, but its share of the mar­ket fell to a re­cord low of 30%. De­mand for re­tail prop­er­ties re­mained at a con­sist­ently low level (15%). Lo­gist­ics real es­tate per­formed par­tic­u­larly well, post­ing a rise to 19% , a new re­cord. The pro­por­tion of in­vest­ment go­ing in­to spe­cial­ist prop­er­ties such as ho­tels fell sig­ni­fic­antly (14%). Res­id­en­tial real es­tate proved pop­u­lar with in­vestors, with its share rising to 22%.Sellers tak­ing steps to en­sure that buy­ers meet their fin­an­cial ob­lig­a­tionsDur­ing the pan­dem­ic, an in­creased need for se­cur­ity on the part of sellers was ap­par­ent. The pro­por­tion of trans­ac­tions in which steps were taken to en­sure the buy­er met its fin­an­cial ob­lig­a­tions rose to a re­cord high of 64%. In pre­vi­ous years, se­cur­ity was agreed in less than 50% of all trans­ac­tions.This high level is due to the in­creased de­sire for se­cur­ity on the part of sellers as a res­ult of the pan­dem­ic; they were of­ten un­cer­tain about the buy­er’s solvency go­ing for­ward. As a means of provid­ing se­cur­ity, both bank guar­an­tees (17%) and a not­ary’s es­crow ac­count (10%) be­came less pop­u­lar. In many cases, in con­trast, the buy­er made an ad­vance pay­ment (29%). In 9% of trans­ac­tions, use was made of sub­mis­sion to im­me­di­ate en­force­ment.Risk al­loc­a­tion in con­tracts: buy­ers catch­ing up in a seller-friendly mar­ket­Buy­ers were able to strengthen their po­s­i­tion fur­ther in 2020 with re­gard to risk al­loc­a­tion in con­tracts. In a mar­ket en­vir­on­ment that re­mained very seller-friendly, they suc­ceeded in ob­tain­ing fa­vour­able con­tract terms more of­ten than in pre­vi­ous years.As part of the war­ranty, guar­an­tees were again agreed more of­ten in fa­vour of buy­ers. The per­cent­age of agree­ments with in­di­vidu­al li­ab­il­ity pro­vi­sions in­creased to 75%. It was com­mon prac­tice to provide for both sub­ject­ive and ob­ject­ive guar­an­tees.The pro­por­tion of deals with seller-friendly lim­its on li­ab­il­ity, such as de min­imis and bas­ket clauses and caps, dropped slightly be­low the pri­or-year level in 2020. The up­ward trend seen over many years in agree­ments aimed at lim­it­ing li­ab­il­ity has thus been curbed some­what, while buy­ers were able to ne­go­ti­ate more fa­vour­able con­tract terms more of­ten than be­fore.Buy­ers also pre­pared ground with re­gard to the con­trac­tu­al pro­vi­sions on lim­it­a­tion peri­ods. An in­creas­ing num­ber of lim­it­a­tion peri­ods from 18 to 24 months were agreed in 2020, while there was a slight fall in the pro­por­tion of short lim­it­a­tion peri­ods of up to 18 months.Na­tion­al in­vestors more prom­in­entIn­t­er­na­tion­al in­vestors had a tough time in 2020. While in­ter­na­tion­al sellers have been re­spons­ible for the ma­jor­ity of deals since 2017, their per­cent­age dropped back down to 43% in 2020, with na­tion­al in­vestors be­com­ing more act­ive. Na­tion­al in­vestors ac­coun­ted for 48% of deals in 2018, while in 2020, 57% of real es­tate in­vest­ments were made by na­tion­al in­vestors.
16/03/2021
CMS ad­vises Al­li­anz Real Es­tate on ac­quis­i­tion of lo­gist­ics fa­cil­ity in...
Stut­tgart – Al­li­anz Real Es­tate has ac­quired a spe­cial pur­pose vehicle that owns a last-mile lo­gist­ics fa­cil­ity in a share deal on be­half of sev­er­al Al­li­anz Group com­pan­ies. The seller of the spe­cial...
20/01/2021
CMS ad­vises Al­li­anz Real Es­tate on ac­quis­i­tion of Lon­don of­fice build­ings...
Stut­tgart – An in­ter­na­tion­al CMS team headed by lead part­ners John Ham­mond and Hugh Pic­ton Phil­ipps has ad­vised Al­li­anz Real Es­tate on all leg­al as­pects of ac­quir­ing 75% of the shares in a port­fo­lio...
14/10/2020
CMS ad­vises Al­li­anz Real Es­tate on sale of Hinden­burg House in Ham­burg...
Stut­tgart – Al­li­anz Real Es­tate GmbH has sold Hinden­burg House, a res­id­en­tial and com­mer­cial build­ing in Ham­burg’s Old Town, to Quest In­vest­ment Part­ners, an in­vest­ment and pro­ject de­vel­op­ment com­pany...
18/09/2020
CMS ad­vises DIC As­set on ac­quis­i­tion of Gate 9 multi-ten­ant of­fice build­ing
Stut­tgart – DIC As­set AG has ac­quired Gate 9, a multi-ten­ant of­fice build­ing loc­ated in Lein­felden-Ech­terdin­gen near Stut­tgart, from a pro­ject com­pany be­long­ing to Thal­los AG. The pur­chase price for...
11/06/2020
CMS ad­vises Al­li­anz Real Es­tate on EUR 500 mil­lion joint ven­ture with de­veloper...
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...
08/06/2020
In­ter­na­tion­al CMS team ad­vises Al­li­anz Real Es­tate on ac­quis­i­tion of Eif­fel...
Stut­tgart – Al­li­anz Real Es­tate has ac­quired the Eif­fel Square of­fice com­plex in Bud­apest on be­half of sev­er­al Al­li­anz Group in­sur­ance com­pan­ies in an off-mar­ket trans­ac­tion. Con­struc­ted some ten years...
03/04/2020
CMS ad­vises on EUR 103 mil­lion prop­erty trans­ac­tion: Württem­ber­gis­che Lebens­ver­sicher­ung...
Stut­tgart – Württem­ber­gis­che Lebens­ver­sicher­ung AG (WLV) has sold the Ep­pen­dorfer Centre to the Hahn Group. The prop­erty in the Ham­burg dis­trict of Ep­pen­dorf changed hands for EUR 103 mil­lion and will...
16/03/2020
CMS ad­vises Al­li­anz on EUR 214 mil­lion ac­quis­i­tion to ex­pand Mu­nich of­fice...
Stut­tgart – Al­li­anz Real Es­tate has ac­quired the NM28 of­fice build­ing in Mu­nich from Ber­tels­mann for EUR 214 mil­lion in a sale-and-lease­back trans­ac­tion. By mak­ing this ac­quis­i­tion, Al­li­anz is seek­ing...
7 October 2019
CMS European Real Es­tate Deal Point Study 2019
Real es­tate in­vest­ment mar­ket flat­lining at a high level Total in­vest­ment re­mains at pre­vi­ous year’s level.In­vestors forced to re­vise their in­vest­ment pref­er­ences: of­fice real es­tate still ahead, but...
October 2019
CMS European Real Es­tate Deal Point Study 2019
A first glance sug­gests there were no ma­jor changes in the European in­vest­ment mar­ket in 2018, with the in­vest­ment volume be­ing roughly the same as in the pre­vi­ous year at around EUR 264bn. However...