DLA Piper has been advising the international property investment company Cordea Savills on the acquisition of Galeria Juliacum in Jülich, west of Cologne. The purchase was completed for the Cordea Savills German Retail Fund, which focuses on German retail trade properties. Seller of the property is a group of English private investors, with the purchase price amounting to some 12.5 million euros.

Opened in 2002, the urban, mixed-use property has a total area of 8,500 square metres and roughly 260 parking bays. The retail sales spaces are fully let to long-standing anchor tenants such as the Müller chemist’s chain, C&A, Deichmann and Bonita.

Cordea Savills is a property investment company with global operations and offices in London, Milan, Munich, Stuttgart, Düsseldorf, Hamburg, Stockholm, Luxembourg and Paris as well as Singapore and Sydney. As of 30 September 2012, the company was managing gross investment assets amounting to approximately 4.1 billion euros.

Advising for DLA Piper under the management of partner Dr Carsten Loll (Real Estate, Munich) were the senior associates Dr Martin Haller, Dr Jan-Ulf Suchomel (both Real Estate, Munich) and Daniela Steierberg (Tax, Hamburg).

http://www.dlapiper.com/dla-piper-advises-cordea-savills-on-the-acquisi…