Clifford Chance advised Redevco, a real estate investment management company specialised in retail property, on the acquisition of the "A2 Center" in Hanover and of two further retail parks in Berlin and Gründau-Lieblos near Hanau, Germany.

Seller of the real estate with a total area of 63,500 sqm are property companies of Krieger-Bau-Gruppe. The transaction is subject to antitrust clearance.

The well established "A2 Center" in Hanover comprises approximately 35,000 sqm and 2,000 parking spaces. The 32 tenants include, inter alia, C&A, Deichmann, Esprit, Reno and Saturn as well as one Real supermarket. The "A2 Center" serves a catchment area with roughly 1.14 million citizens.

The retail park in Gründau-Lieblos near Hanau consists of five retail units covering approximately 21,000 sqm and comprises about 600 parking spaces. The anchor tenants are Bauhaus and Media Markt. The retail park in Berlin's district Wedding has a lettable space of approximately 6,900 and the anchor tenant is Media Markt.

The Clifford Chance was jointly led by partners Reinhard Scheer-Hennings (Düsseldorf) and Dr. Gerold M. Jaeger (Frankfurt) and included associates Alexander Shemyakin (Düsseldorf), Manuel Lomb and Jörg Reinshagen (both Frankfurt) as well as senior transaction lawyer Katrin Rötering (Düsseldorf, all Real Estate), partner Dr. Uwe Schimmelschmidt (Frankfurt), counsels Cord Freiherr von Mandelsloh and Dr. Dominik Thomer, associate Dr. Philipp Weiten (all Düsseldorf) – all Tax – as well as partner Dr. Björn C. Heinlein and associate Steffen Knepper (both Corporate/Energy, Düsseldorf).