City Carré in Magdeburg sold – Noerr advises LBBW on financing the high-volume real estate deal

09.06.2017

Noerr recently advised Landesbank Baden-Württemberg (LBBW) on financing a high-volume real estate transaction. In the transaction, the British investor REVCAP took over City Carré in Magdeburg. The vendor is H.F.S. Immobilienfonds Deutschland 12 owned by Wealthcap. The nine-figure purchase price is confidential.

The complex, which consists of an office building with an integrated shopping mall, has total rental area of around 135,000 square metres and is currently 95% leased. The main tenant is the federal state of Saxony-Anhalt. Among the other tenants are ÖSA Feuerversicherungen, Bosch, Deutsche Bahn, Deutsche Bank, Kaufland, Wöhrl, Rossmann and Medimax.

Advisors to LBBW: Noerr LLP

Andreas Naujoks, Dr Karsten Fink (both Banking & Finance, Frankfurt), Dr Michaela Engel, Elisabeth Dworschak (both Tax, Munich), Associate: Christian Hinzmann (Banking & Finance, Frankfurt)