POELLATH advises Union Investment on the acquisition of “Modul 2” of the Siemens Campus in Erlangen, Germany
The purchase was made for a newly launched fund for four institutional investors, as well as for the open-ended real estate special fund “UII EuropeanM” and the institutional real estate mutual fund “UniInstitutional German Real Estate”.
“Module 2” comprises a reception building and four additional office buildings, which Siemens Real Estate realized at the approximately 74,300 m² site. In addition, there are three parking garages with around 2,200 parking spaces and two historic monuments. Siemens has signed a long-term lease for the total rental space of around 77,600 m². Union Investment is acquiring 60 percent of the property holding company, with Siemens retaining the remaining 40 percent.
POELLATH advised Union Investment on all tax law issues in connection with the acquisition with the following Berlin team:
- Sören Reckwardt (associated partner, lead, tax)
- Dr. Hardy Fischer (partner, tax)
- Dr. Elisabeth Märker (senior associate, tax)
- Vanessa-Mercedes Völlkopf (associate, tax)
Timo Kopmann, Regina Franke and Manuk Babayan advised Union Investment’s internal tax department on the acquisition.
