BERLIN – Dec. 1, 2016 – Thirty-four logistics and industrial properties in Germany and the Netherlands worth 450 million euros were transferred to the Growth Industrial Asset Net-Income Trust (GIANT) November 30, 2016. The GIANT joint venture was structured for a group of occupational pension schemes. This marks the successful completion of one of the largest and most complex transactions of the year within the European logistics real estate market.
Greenberg Traurig provided comprehensive advice on the structuring and implementation of the joint venture. In addition to complex questions on corporate and investment law, their advice also covered real estate and antitrust issues, as well as the refinancing of existing liabilities towards banks and shareholders. These were replaced by borrowed capital, equity and mezzanine capital. Greenberg Traurig also advised the new asset management for the portfolio.
“With this successful completion we underpin our position as one of the leading German asset managers in the field of logistics and industrial real estate,” says Christopher Garbe, Managing Director of GARBE Industrial Real Estate. “Our special thanks go to the mortgage bank Deutsche Pfandbriefbank for their excellent support in the financing and structuring of the transaction. As senior lender, the mortgage bank provided a significant loan amount which it intends to syndicate. We also thank our advisors at Greenberg Traurig and HLB Stückmann for their professional legal and tax structuring of the joint venture.”
Background:
Greenberg Traurig received the mandate through a competitive pitch process.
Legal Advisors:
Shareholders: Peter Schorling, Henrik Armah (both Corporate/M&A)
Associates: Kati Beckmann (Financing), Nicolai Lagoni, Alexander Ahrens (both Corporate/M&A)
In-house: Jens Steier (GARBE Industrial Real Estate)
About Greenberg Traurig Germany
Greenberg Traurig is one of the largest transactional law firms, serving clients from 38 locations across the globe. In Germany, more than 50 lawyers provide legal advice predominantly on transactions in the real estate, technology and telecommunications, media and entertainment, and infrastructure sectors.
The law firm is characterized by its integrated approach that combines legal know-how with in-depth industry knowledge. For this reason, the attorneys are regularly recommended by leading legal directories. In 2016, German newspaper Handelsblatt in conjunction with Best Lawyers recognized the team once again in its “Best Lawyers in Germany” ranking.
Greenberg Traurig was founded in the U.S. in 1967. Internationally, 2,000 attorneys in the U.S., Europe, Asia and Latin America offer legal advice to innovative companies.
For more information please visit www.gtlaw.de.
About Greenberg Traurig, LLP
Greenberg Traurig, LLP (GTLaw) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia and the Middle East and is celebrating its 50th anniversary. One firm worldwide, GTLaw has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and among the Top 20 on the 2016 Am Law Global 100. Web: www.gtlaw.com Twitter: @GT_Law.