Clifford Chance advised an affiliate of Tilad, a Gulf-based multi-family office, on the financing of the acquisition of a distribution centre under construction in Löhne near Herford, Germany. The vendor is ECE Projektmanagement GmbH & Co. KG, headquartered in Hamburg.

ECE will remain developer and building owner until completion of the construction which is expected for spring 2016. The construction project will comprise three interconnected buildings with approximately 100,000 square metres of shed space and around 7,000 square metres of office and social space. The distribution centre is let to Otto GmbH & Co. KG on a long-term basis and is used by two companies of Hermes group.

The Clifford Chance team was jointly led by partners Dr. Gerold M. Jaeger (Real Estate, Frankfurt) and Tobias Schulten and comprised senior associates Tanja Gropp and Anna Brinkmeier as well as associate Kathrin Franck (all Banking & Capital Markets, Frankfurt).