DLA Piper has advised Allianz Real Estate, the real estate holding of the Allianz insurance group, on a joint venture with SES Spar European Shopping Centres, an industry leader in Austria and Slovenia in the retail and food sector. The joint venture, which is the largest European transaction in the retail sector in 2012-2013, will manage a portfolio composed of 7 shopping centres in Italy, Austria and Slovenia

The two Italian shopping centres in the portfolio are Ipercity and Le Brentelle, both of which are located in the Padua area and have a gross surface of approximately 25,000 square metres each. Among the key units within the shopping centres are INTERSPAR, McDonald's, Swarovski, H&M, OVS, Pittarello, United Colors of Benetton, Intimissimi, Calzedonia, Trony, Geox, Profumerie Douglas and Kiko.

The complex transaction encompassed the specific features of the local legal framework whilst establishing the joint venture vehicle in each country and executing the relevant shareholder agreements, as well as the individual asset and property management agreements.

The completion of the transaction is dependent upon complex corporate restructurings in each country.

DLA Piper was represented by a Real Estate team led by partner Olaf Schmidt, head of the Italian and International Real Estate groups, and comprised Paolo Foppiani, senior associate, Maurizio Redondi and Francesco Macrì, associates, who assisted the client with reference to Italian law.

Partner Oskar Winkler and senior associate Clemens Baerenthaler from DLA Piper's Vienna office advised Allianz Real Estate on Austrian law aspects of the deals.

http://www.dlapiper.com/dla-piper-advises-allianz-real-estate-on-7-shop…