Baker McKenzie advises Al Zayani Investments on acquisition of 'Kreiller 214' project development in Munich
Baker McKenzie advised Al Zayani Investments on its acquisition of the 'Kreiller 214' project development in Munich from Bucher Properties.
The project development is a mixed use property with a lettable area of approx. 4,200 sqm located at Kreillerstraße 214 in Munich-Trudering. Anchor tenants will be Deutsche Postbank and FitStar. Completion of the project development is scheduled for Q1/2019.
In 2017, Al Zayani Investments already acquired the adjacent project development 'Kreiller 200' from Bucher Properties, a mixed use property with a lettable area of approx. 4,300 sqm located at Kreillerstraße 200 in Munich to, amongst others, LetoMotel. Both projects are part of the urban development concept of repositioning Trudering as a suburb of Munich.
"The acquisition allows our client to add another high quality asset to its German portfolio. We were able to move quickly on this transaction, allowing Al Zayani Investments to seize this investment opportunity in the booming real estate market in Munich and to continue the growth of its pan-European real estate portfolio, comments Dr. Florian Thamm, the EMEA Real Estate Chair of Baker McKenzie who led the Baker McKenzie team on this transaction.
Al Zayani Investments is a Family Office based in Bahrain active in diversified industries such as automotive, health care, manufacturing and real estate since 1977.
Since its formation in 2006 Bucher Properties has completed various commercial, office and residential projects, hotels and urban development projects in and around Munich and in Southern Germany. Similar project developments were already completed in other suburban city centers of Munich.
Baker McKenzie regularly advises investors, bank and corporates on real estate transactions. Most recently the team advised the banking consortium on the financing of the Berlin Sony Center acquisition, one of the largest real estate transactions in Germany in 2017, Peakside Capital on the joint venture with Madison International Realty re. the Frankfurt Airport Center 1 and the acquisition of the Historic Telecommunications Office in Hamburg-Rotherbaum as well as Corestate Capital on the acquisition of Hannover Leasing.
Legal advisors Al Zayani Investments:
Real Estate: Dr. Florian Thamm (partner, Frankfurt)
Real Estate: Dr. Niklas Wielandt (senior associate, Frankfurt), Dr. Daniel Bork (associate, Düsseldorf), Dr. Janet Butler (counsel, Berlin)
Tax: Sonja Klein (partner, Frankfurt), Ariane Schaaf (senior associate, Frankfurt)
Banking & Finance: Kathrin Marchant (partner, Frankfurt)