Dentons has advised TLG IMMOBILIEN AG on the purchase of a nationwide portfolio of 27 follow-up care centres, supermarkets and discounters across Germany. The seller is an institutional fund, and the acquisition was structured as a share deal.

In total, the 27 retail locations generate an annualized rent of €6,5 million and the weighted average lease term of the rental agreements is 6.0 years. The property’s anchor tenants include REWE, EDEKA, Kaufland and Penny.

TLG Immobilien AG is a listed commercial real estate company in Germany, which specializes in office and retail properties. It owns and manages a real estate portfolio valued at €2.4 billion.

A cross-border Dentons team led by partners Jan Hellner and Dr. Arne Friel advised TLG IMMOBILIEN on all real estate and corporate matters, as well as due diligence, contracting, and tax matters related to the transaction. This is the first large portfolio transaction for TLG Immobilien for Dentons.

Advisor TLG IMMOBILIEN:

Dentons (Berlin): Dr. Arne Friel (Lead Partner, Corporate/M&A), Jan Hellner (Lead Partner, Real Estate), Hauke Thieme (Partner, Tax), Dr. Daniel Barth (Partner, Corporate/M&A), Thomas Kaspelherr (Counsel, Real Estate), Dr. Julia Zeitz-Krüger (Counsel, Public Construction Law), Dr. Andrej Latinovic (Counsel, Real Estate), Dr. Josef Hainz (Counsel, Competition), Holger Hölkemeier (Senior Associate, Tax), Dr. Andre Morgenstern (Associate, Real Estate), Laura Appell (Senior Associate, Public Construction Law), Dr. Matthias Müller (Associate), Dr. Felix Krüger (Associate, both Corporate/M&A), Dr. Michael Bayliss (Associate, Real Estate), Dr. Marius Hommer (Associate, Corporate/M&A), Anna Ritte (Associate, Competition)

Dentons (Luxemburg): Delphine Tempé (Partner, Corporate/M&A), Carmen André (Senior Associate, Corporate/M&A)

In-House TLG: Armin Heidenreich (Head of Legal), Peter Voigt