POELLATH advises Union Investment on the acquisition of the Planetencenter retail park in Garbsen, Germany
Union Investment has acquired the Planetencenter retail complex in Garbsen (Hanover). The purchase was executed for the special real estate fund UII GermanM. The seller is international real estate investment manager Savills Investment Management. The parties have agreed not to disclose the purchase price.
The Planetencenter consists of two single-story buildings: A row of retail spaces newly built in 2014 and an existing building originally constructed in 1983/1984 and completely renovated in 2015/2016. The total rental space of around 16,700 m² is spread over 38 units.
POELLATH advised Union Investment on all tax-related aspects with the following Berlin-based team:
- Sören Reckwardt (associated partner, lead, tax law).
- Dr. Hardy Fischer (partner, tax law)
- Dr. Elisabeth Märker (senior associate, tax law)
In Union Investment’s internal tax department, Timo Kopmann advised on the acquisition.
