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CMS advises Patrizia Gewerbeinvest on the purchase of the Municipal Office of Eindhoven

01/09/2011

CMS Derks Star Busmann assisted Patrizia Gewerbeinvest KAG mbH with the purchase of the Municipal Office of Eindhoven from Solidiam. Patrizia Gewerbeinvest bought the property for its fund, LB Buro-Invest Europa 1.

The office building is located at Stadhuisplein 10 in Eindhoven and has a lettable floor area of a total of 11,100 m2 in office space and has 270 parking spaces. The property has been made sustainable, given an energy label and has been on long-term lease to the municipality of Eindhoven. In total, the investment amounts to approximately 30 million Euros.

Patrizia Gewerbeinvest KAG forms part of Patrizia, a leading German property investor with 370 staff, a head office in Berlin, several branches in Germany and offices in Luxemburg and Stockholm. Through Gewerbeinvest KAG, institutional investors are offered thirteen different funds and modular property portfolios in which to invest.

CMS provided Patrizia with advice in the legal sphere; in addition the company was supported by technical advisor CVO International and property advisor 3stone Real Estate. Solidiam received assistance from Appelhoven Vastgoedadviseurs and Baker & McKenzie.

A team led by CMS Real Estate partner Hein van der Meer was responsible for the due diligence, purchase agreement, notarial transfer of title and advice (including rental and tax) on behalf of Patrizia Gewerbeinvest. The following CMS lawyers collaborated in this transaction: Roland Bos, Annalie Draisma, Bertine Mouthaan, Arnout Scholten, Sebastiaan Sellenraad, Femke Stroucken, Steven van Voorst, Janneke de Waal (all Real Estate) and Joost van Zanten (Tax).

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