P+P advises Union Investment on acquisition of Ericus-Contor in Hamburg HafenCity

The purchase was carried out for the portfolio of the open real estate fund UniImmo: Deutschland. The final closing is planned in June of this year.

Centrally located on the Elbe River, Ericus-Contor comprises a rental area of almost 19,000 square meters, of which 17,500 square meters are occupied by offices. In addition, additional areas for dining (360 m²), services (460 m²) and storage (580 m²), as well as a total of 219 underground garage spaces. The property is currently leased at 98% occupancy. The primary tenants include the shipping company Maersk, the shipping and container transport company Hapag-Lloyd and the fashion company Chanel.

The very high sustainability standard of the property is notable: Ericus-Contor has a DGNB platinum certificate and thereby the highest distinction awarded in Germany for sustainability.

P+P Pöllath + Partners advised Union Investment on all tax matters (including investment tax law issues) with the following Berlin-based team:

• Sören Reckwardt (lead, associated partner, tax law)
• Dr. Hardy Fischer (partner, tax law)
• Dr. Per-Eric Eulau (associate, tax law).