Noerr advises Gold Tree on acquisition of Esprit headquarters in Ratingen

Noerr has with a team of experts from its Real Estate Investment Group advised the Swiss real estate investor Gold Tree on the acquisition of the headquarters of Esprit Europe in Ratingen. The purchaser is a Gold Tree investment vehicle which purchased the office building from a closed real estate fund of Real I.S. AG.

The transaction was structured by dividing the asset into a heritable building right property and a heritable building right with a term of 99 years plus renewal options. While Gold Tree acquired the heritable building right, Continuum Capital from Frankfurt structured the investment in the newly created heritable building right property for a German pension scheme. The eye-catching office building consists of five building wings as well as a rotunda comprising the canteen and showroom areas of the lessee. Overall, the building has more than 20,000 square metres of rental space and 386 parking spaces. The transaction is part of Gold Tree’s strategy to substantially expand its German real estate portfolio and to focus on large-volume office properties, retail and logistics in future.

The transaction was arranged by JLL and financed by DG Hyp. The future asset management for Gold Tree will be taken care of by McCafferty who have already provided business consulting advice during the transaction.

Noerr’s Real Estate Investment Group (REIG) which is headed by Professor Alexander Goepfert offers a unique advisory portfolio. This practice group consists of more than 60 experts covering all disciplines of relevance to the real estate industry and has continuously grown its market share in the past few years with its interdisciplinary approach.

Advisors to Gold Tree Group: Noerr LLP

Annette Pospich (Munich/Düsseldorf, Real Estate Investment Group), Dr Peter Bachmann (Regulatory), Associates: Jessica Ploss (Real Estate Investment Group), Katherina Luther (Regulatory, all Munich)