The Legal 500 > Europe, Middle East & Africa > Germany > Real estate

Freshfields Bruckhaus Deringer’s highly regarded practice is considered to be ‘one of the best for real estate transactions’ and also stands out for its ‘excellent negotiation skills’. The seven-strong team predominately handles transactional work alongside financing matters in the office, retail, logistics, hotels and residential asset classes. In headline work, team head Johannes Conradi assisted HafenCity Hamburg with the bidding process and contract negotiations for the sale of the Elbtower project and Niko Schultz-Süchting advised Norges Bank on the acquisition of the new Axel-Springer headquarters by way of a forward asset deal and on its subsequent lease to Axel Springer. With Timo Elsner in the lead, the team also acted for Blackrock on the acquisition of the Kustermannparks from Ares Management. In finance, the practice advised AXA on the acquisition of a nursing home portfolio for €180m.

CMS covers the full remit of real estate law including transactions, project developments, finance and asset management. Team head Sebastian Orthmann recently advised Universal Investment Luxembourg on the acquisition of a portfolio consisting of 90 properties for €697m as part of a share deal with German and Luxembourg structures. In another highlight, Volker Zerr assisted Allianz with the acquisition of the office project The Icon Vienna from Signa by way of a forward deal. On the financing side, Marc Seibold assisted Correo Munich Real Estate with the financing of the acquisition of the Correo Quarter in Munich by Deutsche Pfandbriefbank and Landesbank Hessen-Thüringen Girozentrale. Heinrich Schirmer is another key figure.

Recognised for its ‘very good knowledge of the market’, the team at Noerr is considered a good contact for cross-border real estate transactions and financing matters and is jointly led by Alexander Goepfert, who is praised for his ‘economic understanding, excellent market insight and extensive transactional experience’, and Annette Pospich, who made partner in January 2018. Goepfert assisted Apollo Global Management with the development of a Europe-wide logistics portfolio, while Pospich advised Real I.S. Group on the acquisition of a mixed-use property in Munich for circa €190m. In other work, the team assisted GEG German Estate Group with the acquisition and financing of the Japan Center from Commerz Real for €280m. Clemens Schönemann was promoted to the partnership in early 2018 and in January 2019, real estate financing expert Karsten Fink was appointed senior counsel. In other team changes, Florian Ehrich joined Morrison & Foerster LLP and René Dubois moved to Dentons in summer 2018 and senior associate Bernd Bäumer joined Ashurst LLP as counsel in November 2018.

Commended for its wide-ranging expertise in real estate finance, the team at Allen & Overy LLP is also experienced in real estate transactions and project developments; clients praise the practice for ‘having a good feel for the right timing of a deal’ and for providing ‘business-oriented advice’. The ‘excellent’ Olaf Meisen recently advised a consortium of banks on the financing of the acquisition of four cross-border and German-wide portfolios consisting of 270 logistics properties by several subsidiaries of the Blackstone Group from M7 Real Estate. In other work, Jochen Scheel’s team assisted Patrizia with the acquisition of a portfolio consisting of 85 retail properties in the grocery sector from PGIM Real Estate for €400m, and advised a joint venture from the automotive sector on various real estate law matters pertaining to cross-border infrastructure required for a new technology. Finance group head Peter Hoegen is another key individual. Retail and logistics sector expert Christian Hilmes made partner in May 2018.

‘Top’ firm for real estate matters Bryan Cave Leighton Paisner LLP is led by Roland Fabian and specialises in advising national and international investors on transactions, most notably those involving the office and retail asset classes. In recent work, Carsten Bremer, who is ‘a calm negotiator and has a keen eye for detail’, advised Allianz Real Estate on the sale of a mixed-use property to a well-known real estate investor. Other highlights include advising Aurec Asset Management on the sale and financing of the Eschborn Plaza in Frankfurt for €236m by way of an asset deal, and assisting Techspace Property with the long-term lease of two commercial properties in Berlin. The ‘very competent’ Tina Siebenhaar and Stephan Krampe, who ‘works quickly and thoroughly while also understanding business relationships very well’, are also noted. InfraRed Capital Partners and HansaInvest are also clients.

The ‘very knowledgeable’ team at Gleiss Lutz attracts praise for its ‘very good service coupled with a well-structured approach’. Team head Tim Weber advised Blackstone on the sale of the logistics platform Logicor to China Investment and assists real estate company RFR with several transactions including its recent acquisition and financing of a portfolio consisting of 15 Karstadt retail objects for €700m. Helge Kortz acted for Aareal Bank in financing the acquisition of three properties by Singa that had formed part of the Primus portfolio and Johannes Niewerth advised Mirae Asset Global Investments on the acquisition of the Taunusanlage 8 office building in Frankfurt. Claudia-Maria Wirth joined Beiten Burkhardt and Yvonne Kerth moved to Dannecker & Kerth Partnerschaftsgesellschaft mbB Rechtsanwälte.

Graf von Westphalen’s ‘excellent’ and ‘very well-informed’ real estate team is led by Lorenz Czajka and has been increasingly active for family offices and individual investors in transactions and project developments, most notably in the hotel and leisure asset classes, which constitutes a particular area of strength for the team. It advised a US hotel chain on the sale of holiday homes, and, in equally significant work, the practice assisted a foreign asset management company with the acquisition of five specialised retail parks for €260m, and acted for a Swiss investor on the acquisition of a mixed-use property by way of a forward asset deal. The ‘objective and precise’ Christian Zerr, who is also ‘pleasant to deal with’, joined the team in September 2017 from Hogan Lovells International LLP.

GSK Stockmann has ‘a very good understanding of real estate law and the underlying business objectives’, enabling the team to provide ‘well founded and professional advice on all relevant matters’. The team, which is led by Dirk Brückner, focuses on real estate transactions and project development work, particularly with regards to the hotel, nursing homes, logistics and retail asset classes, and increased its bench strength in March 2018 by adding Johann Rumetsch from Herbert Smith Freehills Germany LLP, while, in January of the same year, the ‘quick and proactive’ Christoph Strelczyk was made partner. Rainer Werum advised Corestate Capital Transactions on the acquisition of five project developments by way of a forward asset deal worth €600m and assisted Deka Immobilien Investment and real estate investment trust WestInvest Gesellschaft für Investmentfonds with the acquisition of high-rise office Tower 185 in Frankfurt am Main. Monique Franke advised Swiss Life on matters pertaining to the acquisition of a retail portfolio.

The ‘very good’ team at Linklaters provides ‘very quick response times’ and ‘professional and competent advice’ and is also ‘pleasant to work with’. With the addition of DLA Piper’s former real estate practice head Carsten Loll, who joined in March 2017, the team was able to expand its client roster significantly; it now includes, among others, asset manager BlackRock, which it recently advised on the sale of the Logicor platform to China Investment Corporation. Other clients include BNP Paribas and WealthCap. Michaela Sopp assisted LaSalle Investment Management with the financing of the acquisition of a real estate portfolio. Wolfram Krüger heads the practice.

‘Adapting its approach to match every project perfectly’, P+P Pöllath + Partners’ four-strong team is also praised for its ‘very good service level and cost-effective approach’. It has a strong profile for transactional work in the residential, office, hotel, nursing homes and logistic properties asset classes. The ‘well-versed and flexible’ Matthias Durst, who is also ‘a strong negotiator’, and the ‘highly regarded and very experienced’ Stefan Lebek are the key contacts: Durst advised long-term client Hines on the sale of the Mercedes-Benz Bank building in Stuttgart, and assisted ZBI Group with various portfolio transactions, while Lebek acted for NPS Korea on the sale of the Sony Center in Berlin for €1.1bn. Project development expert Marcel Guenoub made partner in January 2018.

Taylor Wessing’s ‘always available’ team provides ‘excellent response times, which are guaranteed even for last-minute requests’. It also receives praise for its ‘excellent interdisciplinary communication’, enabling the practice to handle various transactions and project development instructions in the logistics, residential and hotel sectors. The ‘reliable’ team is ‘very experienced’ in advising German and international clients; recently, it advised the British real estate investment group CLS on the acquisition of a German-wide portfolio consisting of 12 office buildings from Züblin for €152m, assisted Garbe Industrial Real Estate with the sale of a portfolio consisting of three logistics project developments by way of a share deal, and advised long-term client Commerz Real on several hotel transactions. ‘Solution-oriented’ team head Anja Fenge, whose ‘strength in negotiating is not hampered in difficult or time-critical situations’, and Martin Bartlik, whose ‘deep expertise in the hospitality sector’ and ‘detailed knowledge of real estate transactions’ make him ‘an ideal partner for complex matters and negotiations’, are recommended.

The real estate team at Ashurst LLP stands out for its ‘quick response times, a strong business sense and excellent industry knowledge’, leading to frequent instructions from predominately international clients on real estate transactions and financing. While the arrival of Filip Kurkowski from Baker McKenzie in early 2018 boosted the team’s real estate financing capabilities, the team lost Hendrik Theismann to Norton Rose Fulbright and Sebastian Schoon to Gibson Dunn in summer 2018. Recently, the team assisted two BVK real estate funds with matters pertaining to the refinancing of a commercial real estate portfolio provided by Landesbank Baden-Württemberg and totalling €340m. Together with the ‘excellent’ Sven Nickel, team head Liane Muschter, who provides ‘practical and targeted advice while also handling negotiations in a very competent and professional way followed by the quick implementation of solutions’, advised long-term client Triuva on the acquisition of the K1 office property in Hamburg’s HafenCity from CBRE Global Investors. Corestate and Hamburg Trust are new clients. In November 2018, counsel Bernd Bäumer joined the team from Noerr.

Beiten Burkhardt is dedicated to assisting foreign investors with transactions and tenancy law matters. Since 2010, Florian Baumann, who clients recommend for his ‘quick response times, extensive expertise and excellent advice on difficult issues’, and Frank Oprée have been advising a leading asset manager on various real estate transactions and asset management issues pertaining to a portfolio of 30 properties. In other highlights, the team assisted Mohammad Omar Bin Haider Group with the acquisition of a former US barracks and Stefan Fink advised a client on the acquisition of a commercial property for circa €150m. In 2017, the team added Claudia Wirth from Gleiss Lutz and a team from HauckSchuchardt consisting of three partners and one associate.

FPS is particularly active in the transactional and financing space. In recent highlights, Hendrik Sandmann advised Barings Real Estate Advisers on the acquisition of the Kettcar portfolio consisting of five office and retail properties for over €100m, while the same client also received assistance with the sale of the office and retail property Loft 193 in Frankfurt. In finance, the team acted for Raiffaisen Bank International on the refinancing of a mixed-use portfolio of 36 individual properties. Associate partner Lars Voigt joined the team in June 2018 from Hengeler Mueller.

Heussen Rechtsanwaltsgesellschaft mbH focuses on advising companies and family offices on transactions and project developments. During the research period, the ‘proactive and committed’ real estate practice received a significant boost by adding Elmar Bickert from Lambsdorff Rechtsanwälte and Michael Wichert from P+P Pöllath + Partners in early 2018, while Carsten Richter, Nina Klotz-Hörlin and Simone Schultheiß were promoted to the partnership. In other team changes, Volker Mattausch left the firm in April 2018 to work as a judge, while counsel Nora Byra joined WALCH RITTBERG NAGEL Rechtsanwälte und Steuerberater Partnerschaft mbB in December 2017. ‘Highly regarded’ Munich-based Jan Dittmann provides regular advice to Matrix Immobilien on various sales and acquisitions of project developments including the acquisition of the Ostsee hotel project. Other highlights include assisting the city of Munich with matters concerning the renovation of the Deutsches Museum and advising a foreign investment company on the acquisition of a residential project.

The team at K&L Gates LLP, which is led by Felix Greuner, has ‘wide-ranging and deep expertise’, enabling the practice to ‘provide advice on a large variety of matters’. It recently advised a Threestones Capital Group fund on the acquisition of several nursing homes for €110m, while Florens Girardet assisted Rockspring PIM with its nationwide sale of five retail properties. The group also advised an English family office on the restructuring of a portfolio worth hundreds of millions of euros. Kristina Baurschmidt is rated for her ‘wealth of experience’ and ‘clear strategic approach’.

With transactional work at its core, Mayer Brown LLP receives praise for its ‘strong negotiation skills’ and handles real estate sales and acquisitions in all asset classes. In significant work, counsel Philipp Schaefer and team head Fabian Hartwich advised an asset manager on the acquisition of an office building in Bonn as part of a sale and leaseback transaction, and assisted Joh. Berenberg, Gossler & Co. with the acquisition of Berlin-based shopping centre Neumann Forum from RI Partners. Martin Heuber assisted Natixis Pfandbriefbank with the €157m financing of the acquisition of Eschborn Plaza. Hotel property expert Joachim Modlich is also noted.

Raue PartmbB’s strength lies in handling real estate transactions and project development work. The Berlin-based team is led by Klaus Goecke and provides ‘a great service’; it recently advised the seller on the sale of shares in a real estate company to the subsidiary of a leading foreign investor, while Cornelia Gorn advises long-term client Corpus Sireo on the acquisition of medical centres, nursing homes and assisted living facilities. BIM Berliner Immobilien Management is another key client, which the team regularly assists with various real estate matters.

The team at BMH Bräutigam & Partner provides ‘an excellent service’ and ‘reacts with lightning speed’ when handling transactional and financing matters. The team provides regular advice to Signa Group and ‘very experienced and assertive transaction lawyer’ Boris Reschucha recently led assistance to the client with a bidding process and the financing of a high-rise property project in Berlin. Other recent highlights include advising new client Freo-Gruppe on several transactions and various tenancy law issues. Alexander Nast, who made partner in January 2018, is rated for his ‘excellent economic understanding’.

BRL Boege Rohde Luebbehuesen focuses on transactions, project development and financing work. The team around practice head Marc Biebelheimer advised new client Haspa Projektentwicklungs- und Beteiligungsgesellschaft on various real estate matters including the financing of long-distance train station Hamburg-Altona am Diebsteich, which is still under construction, and assisted MIB AG Immobilien und Beteiligungen with the acquisition of a shopping centre by way of a share deal. Jörg Siecke is another key member of the team.

Buse Heberer Fromm’s team lead by Markus Ruhmann predominately acts for German clients, including project developers, asset managers and insurance companies, on transactions as well as residential, commercial and specialist project development matters. In recent work, the team advised GP+Q on the development of holiday homes totalling €70m.

Hamburg-based boutique Jebens Mensching LLP is best known for handling transactions and project developments. Highlights included advising Deka Immobilien on the sale of the Duo office building in Düsseldorf and assisting Momeni Group with the sale of the Springer Quarter project development to various pension funds. Philipp Jebens is noted.

Achim Meier’s ‘excellent’ real estate practice at Luther Rechtsanwaltsgesellschaft mbH handles transactions alongside tenancy law matters and receives praise for its ‘balanced strategies to resolve issues’. In recent highlights, the practice assisted Ärzteversorgung Niedersachsen with the acquisition of the Springer Quarter in Hamburg, and advised Real I.S. on the sale of the office property Holle-Karree. Michael Kunkel was made up to partner in July 2017 and Stephan Finck in July of the following year.

Rödl & Partner’s real estate practice places significant emphasis on transactional work. The team provides regular advice to a German real estate company and recently assisted the client with the due diligence and the acquisition of a portfolio consisting of 22 predominately commercial properties as part of a sale and leaseback structure. Practice head Harald Reitze assisted an institutional investor from southern Germany with the acquisition of a nationwide office and technology portfolio from Gieag Immobilien and advised PIC Real Estate on the sale of an office property in Erlangen.

Andreas Helm’s team at Wagensonner has tenancy law, transactional and project development work at its core and focuses on logistics and office real estate, acting for private and public sector clients. It recently assisted a project developer with the sale of a mixed-use construction project in Hamburg, and advised an asset manager on the acquisition of a development site in Munich.