Berlin, 20.08.2019 – The international law firm Bryan Cave Leighton Paisner (BCLP) advised Sirius Real Estate on the acquisition of Business Park Alzenau from RWE Generation SE and GfV Gesellschaft für Vermögensverwaltung, represented by Innogy SE. The purchase price was approx. EUR 42m.
Alzenau Business Park is located approx. 34 km east of Frankfurt and consists of 11 buildings constructed between 1985 and 2002 with a total leasable area of 60,000 sqm. The business park is leased by 93.5% to 16 tenants, including Aldi as a heritable building leaseholder, and generates an annual gross revenue of EUR 4.1m. 47% of the space is currently used as storage and production space, 47% as office space and 6% as other space.
Listed on the main markets of the London and Johannesburg Stock Exchanges, Sirius Real Estate develops and operates a variety of business parks, offices and industrial complexes across Germany. Operated under the Sirius brand each business park offers flexible workspace and services to suit small and medium sized enterprises.
Sirius Real Estate was advised by an experienced Berlin team from BCLP with an established relationship under the leadership of real estate and corporate finance partner Dr Albrecht von Breitenbuch, including real estate senior associates Dr Kirsten-Inger Wöhrn and Dr Ruben Pisal as well as real estate associate Max Staguhn. Once again, Sirius Real Estate relied on the real estate law expertise of BCLP for one of its complex real estate dealings in Germany.
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