DLA Piper has advised the KGAL Investment Management GmbH & Co. KG on its acquisition of shopping center and neighbourhood hub "Berliner Freiheit" in Bremen, for an undisclosed price. The "Berliner Freiheit" was sold by the Hamburg-based family-run firm which originally built the property. The property will be added to a special Europe-wide real estate AIF.

The "Berliner Freiheit" shopping center is located in the eastern district of Bremen-Vahr. The property, which was built between 2002 and 2003, comprises a total rental area of around 21,000 meters squared.

KGAL Group is a leading, independent investment and asset manager with an investment volume of €22.7 billion. Its investment focus is on long-term capital investments for institutional investors in the real estate, infrastructure and aircraft asset classes. The Group, founded 50 years ago, operates across Europe and is headquartered in Grünwald near Munich.

The DLA Piper team was led by Frankfurt-based Real Estate partner, Fabian Muehlen, and counsel, Dr Dennis Hog, and comprised Frankfurt-based Tax partner, Dr Konrad Rohde, counsel, Dr Raimund Behnes, Cologne-based Real Estate senior associate, Moritz Mursa, Munich-based tax associate Juliane Groeper as well as Frankfurt-based Real Estate associate Konstantin Decker-Horz.