P+P advises Union Investment on acquisition of a logistics property portfolio
Union Investment has acquired a logistics property portfolio from the German logistics provider Trans Service Team (TST). The portfolio has a total rental area of approximately 120,000 m2 and comprises an existing property and three project developments in the Ruhr and Rhine-Hesse regions. TST is the owner-occupant of the property and is securing the development, planning and sale in cooperation with the TIMBRA Group in Worms. The purchase is being carried out on behalf of the open-ended public real estate fund UniImmo: Europa.
The purchase price is approximately EUR 120 million, subject to all contractually defined conditions.
P+P Pöllath + Partners advised Union Investment on all matters related to tax law (including investment tax law issues) with the following Berlin-based team:
- Sören Reckwardt (lead, associated partner, tax)
- Dr. Hardy Fischer (partner, tax law)
- Elisabeth Märker (associate, tax law)
