Clifford Chance has advised METRO Properties, Düsseldorf, the real estate company of METRO Group, on the sale of parts of METRO headquarters to IVG Institutional Funds GmbH. The parties have agreed not to disclose the purchase price.

The headquarters, the so-called METRO Campus, is located in Düsseldorf's district of Grafenberg. The area sold consists of a total of seven buildings with approx. 75,500 sqm leased space and is rented out to METRO group under a long-term sale and lease back contract.

IVG Institutional Funds GmbH acquired the real property for an individual client of a major German institutional investor.

The Clifford Chance team was led by partner Reinhard Scheer-Hennings and comprised associate Dr. Henrik Dornscheidt and senior transaction lawyer Katrin Rötering (all Real Estate, Düsseldorf), partner Dr. Sven Zeller and counsel Dr. Alexandra Uhl (both Banking & Capital Markets, Frankfurt) as well as partners Dr. Josef Brinkhaus, Gerhard Dreyer and associate Elizabeth Modzel (all Tax, Frankfurt).