Press release |


BEITEN BURKHARDT Advises LaSalle Investment Management on Sale of Office Property in Ratingen

Munich, 18 January 2021. The international law firm BEITEN BURKHARDT has advised LaSalle Investment Management on the sale of an office property in Ratingen near Duesseldorf. The transaction was carried out on behalf of the pan-European real estate fund LaSalle E-REGI. The property, acquired by the Fund in September 2011, was sold to BNP Paribas Real Estate Investment Management. The parties have agreed to keep the transaction volume confidential.

The property, known as the "Zwei-Scheiben-Haus", one of the first LEED Platinum certified buildings in Germany, consists of two modern, high-quality office buildings with seven and five floors respectively, which are connected by a canteen and an underground car park. The total area amounts to more than 11,300 square metres.

LaSalle has actively managed the property during the long-term holding period. Initially, the principal tenant was Coca Cola. When the company decided to relocate its headquarters in 2012, the property was subsequently restructured into a multi-tenant building, with a well-known fashion company as the anchor tenant until September 2019. Since October 2019, large parts of the vacated floors have been re-leased to a variety of companies, diversifying the yield and achieving a high occupancy rate. Located in North Rhine-Westphalia, Germany's most populous state, and close to Duesseldorf, one of Europe's leading commercial property markets, the property's excellent access to several motorways, proximity to the airport and available public transport services make it very accessible. A steady increase in office space turnover drove the region's vacancy rate to a record low in 2019, supporting the property's performance under LaSalle's ownership.

On the legal side, LaSalle was advised by BEITEN BURKHARDT, on the technical side by Drees & Sommer and on the commercial side by Savills.

Advisors to LaSalle Investment Management:

BEITEN BURKHARDT: Florian Baumann (in charge), Anja Fischer, Annalena Benz (all Real Estate), Katrin Lüdtke (Public Law, all Munich), Robin Maletz (Real Estate, Berlin) and André Suttorp (Tax Law, Frankfurt).

CONTACT

Florian Baumann
Phone: +49-89-35065-1446

E-mail:
Florian.Baumann@bblaw.com

Experts

Florian_Baumann_Experte_BEITEN_BURKHARDT

Florian Baumann

Lawyer

Partner

Anja_Fischer_Experte_BEITEN_BURKHARDT

Anja Fischer

Lawyer, MBA

Partner

Annalena_Benz_Experte_BEITEN_BURKHARDT

Annalena Benz

Lawyer

Katrin_Lüdtke_Experte_BEITEN_BURKHARDT

Katrin Lüdtke

Lawyer, Licensed Specialist for Administrative Law

Partner

Robin Maletz_Experte_BEITEN BURKHARDT

Robin Maletz

Lawyer, Notary - registered office Berlin

Partner

André_Suttorp_Experte_BEITEN_BURKHARDT

André Suttorp

Lawyer, Tax Advisor , Graduate Financial Economist

Partner