P+P advises Union Investment on the acquisitions of a logistics property and an office building

Union Investment has acquired a logistics property in Hannover that is fully leased on a long-term basis. The property in Hägenstrasse consists of a new building and an existing unit and has a total rental area of 28,400 m². The logistics property is merging with the portfolio of the open-end institutional real estate fund UniInstitutional German Real Estate.

Furthermore, Union Investment has acquired the office building Kurt-Schumacher-Straße 31 in Frankfurt for its open-end special fund DIFA-Fonds No. 3. The office property was built in 1964 and completely renovated in 2010; it is located in the city center, only 150 meters from the pedestrian shopping street Zeil in Frankfurt.

P+P Pöllath + Partners advised Union Investment on all tax aspects (including those issues related to investment tax law) with the following team:

• Sören Reckwardt (lead, counsel, tax, Berlin)
• Dr. Hardy Fischer (poartner, tax, Berlin)

The law firms Clifford Chance (logistics property in Hannover) and Norton Rose Fulbright (office building in Frankfurt) advised the buyer on civil law issues.