27 December 2012
Clifford Chance advises Tristan Capital Partners on its acquisition of the Neustadt-Centrum in Halle an der Saale
Clifford Chance advised Tristan Capital Partners, London, on its acquisition of the Neustadt-Centrum shopping centre in Halle an der Saale, Germany, for its own Curzon Capital Partners III Fund (CCP III). Pamera Asset Management GmbH is acting as co-investor and the purchase price for the deal is around EUR 31 million.
The property is being sold by Australian APN Property Group. It was built in 2000 and offers a lettable area of 30,700 m². The main tenant is a real,- store covering more than 10,000 m² with the other tenants including Aldi, Modehaus Fischer, Deichmann, Rossmann, Douglas and Medimax. In total, there are 60 tenants and more than 900 customer parking spaces are available.
Tristan Capital Partners is an independent investment management company currently managing a portfolio worth around EUR 2.8 billion.
The Clifford Chance team was led by partner Cornelia Thaler and included counsel Dr. Gerold M. Jaeger (both Real Estate, Frankfurt), transaction lawyer Katrin Rötering (Real Estate, Düsseldorf) and partner Jaap Koster and associate Luuk Wieringh (both Corporate, Amsterdam).
Cornelia Thaler's team had already advised CCP III on its acquisition of the BBW Bürohaus Bockenheimer Warte in Frankfurt in March 2012 and the Dieterich-Karree property in Düsseldorf in July 2011.