BCLP advises TwentyTwo Real Estate on acquisition of Center Parcs Allgäu holiday park in Germany

International law firm BCLP advised TwentyTwo Real Estate on the acquisition of Center Parcs Allgäu in Germany, one of the largest and most recent Center Parcs in Europe.

The acquisition, which includes 750 of the site's 1,000 cottages as well as the main sports and leisure facilities, was made by TwentyTwo Real Estate Fund III and its affiliates from Lagune International, an investment vehicle managed by Batipart. The investment in Center Parcs Allgäu, which is Green Key certified (a leading certification standard in the tourism industry) is fully in line with TwentyTwo Real Estate’s ESG policy, which focuses on building sustainable value.

The holiday park is strategically located in southwest Germany, close to the three major urban areas of Munich, Stuttgart and Zurich. This new-generation park, which opened in 2018, spans 184 hectares in an area of outstanding natural beauty. It is leased and managed by the Pierre & Vacances Center Parcs Group. This acquisition enables TwentyTwo Real Estate to continue its pan-European growth by investing in a resilient sector with excellent growth prospects, allowing it to capitalise on long-term trends, such as the growing demand for staycations in unique sites immersed in nature.

TwentyTwo Real Estate is an independent real estate investor-operator with €4.8 billion of assets under management in Europe. Founded in 2012 by Daniel Rigny, the group combines financial expertise and operational excellence to offer its institutional and private clients a range of value-accretive investment solutions and management services across all real estate asset classes. TwentyTwo Real Estate’s mission is to build sustainable value for its investors, clients and employees, while having a positive impact on society and the environment.

The international BCLP team was led by Berlin Partner Dr Albrecht von Breitenbuch and his core real estate team of Dirk Ehleben (Counsel), Christian Gerhards (Associate) and Valeria Podmogilni (Associate). The broader advisory team also included Heiko Stoll (Partner) and Fabienne Helle (Associate) for tax, Philippe Kamarowsky (Partner) and Sascha Wickler (Senior Associate) for real estate finance, Peter Schaefer (Counsel) and Camille Zell (Associate) for French leasing law, Paul Culliford (Senior Associate) for anti-trust law and Mark Farrant (Consultant) for English law financing.