P+P advises TLG IMMOBILIEN on the sale of 29 retail properties to Greenman
TLG IMMOBILIEN AG has sold 29 retail properties, mainly located in Saxony-Anhalt and Lower Saxony, to Greenman Investments ("Greenman"). P+P advised TLG IMMOBILIEN on the transaction.
TLG IMMOBILIEN is a listed company based in Berlin that specializes in commercial real estate in Germany. Business segments include leasing, administration, purchase, sale and development of office, retail and hotel properties. Regional networks exist via the TLG IMMOBILIEN offices in Berlin, Dresden, Erfurt, Frankfurt am Main, Leipzig and Rostock. The company employs more than 130 people and generated consolidated sales of EUR 271.4 million in 2018.
TLG IMMOBILIEN is currently optimizing the structure of its commercial real estate portfolio. The individual properties sold have been costly to the company due to the widespread, non-strategic locations. The company is reinvesting part of the sales proceeds generated in the purchase in a fully leased office complex in Bonn.
P+P Pöllath + Partners advised TLG IMMOBILIEN on legal and tax matters with the following Berlin-based team:
- Stefan Lebek (partner, real estate)
- Hardy Fischer (partner, tax law)
- Sebastian Pasch (counsel, real estate)
- Jochen Schöfthaler (associate, real estate)
Internally, TLG IMMOBILIEN was advised by inhouse counsel René Schober.