Berlin, 24 August 2017 – Greenberg Traurig advised Velero Partners (Velero) on the acquisition and financing of a portfolio of 4,500 housing and 180 commercial units by way of a share deal. The properties included in the acquired portfolio are for the most part located in North Rhine-Westphalia — in Dortmund, Duisburg, Bochum, and Essen, among others. At a total surface of 300,000 square meters, the portfolio generates an annual net rent of EUR 16.2 million, and with a vacancy rate of 9.2 percent, it offers an attractive potential for increase in its value. The parties agreed to keep the identity of the sellers and the purchase price confidential.
The German and Dutch offices of Greenberg Traurig advised Velero comprehensively on all legal aspects relating to the transaction and on the financing.
Velero is a real estate company specializing in the acquisition and management of residential properties as investment properties and properties for sale. Since its incorporation approximately 2 years ago, Velero has acquired a residential portfolio within the framework of purchase and management assignments. Today, Velero manages more than 9,300 housing units in North Rhine-Westphalia and the new federal states of Germany. Greenberg Traurig Germany has been advising Velero since its foundation, and assisted them with all the acquisitions effected to date.
Partners: Dr. Josef Hofschroer, Dr. Henrik Armah (lead attorneys, Germany, Corporate/M&A), Dr. Nicolai Lagoni (Germany, Corporate/M&A), Martijn Hermus (Netherlands, Corporate/M&A), Dr. Christoph Enaux (Germany, Antitrust Law), Claudia Hard (Germany, Finance), Dr. Martin Hamer (Germany, Public Law)
Counsel: Dr. Kati Beckmann (Germany, Finance)
Associates: Dr. Sara Berendsen, Natalie Hsiao, Eleonore Chowdry, Dr. Philipp Osteroth, Dr. Simon Pfefferle, Dr. David Schwintowski, Marco Stempin (all Germany, Corporate/M&A), Dr. Lucas Wüsthof (Germany, Antitrust Law), Eva Herdé, Maquina Lamé (both Netherlands, Corporate/M&A), Max Hortmann, Dr. Alexander Karrenstein, Alexandra Parascho, Kathrin Peiffer, Tina Rechenbach (all Germany, Real Estate/M&A), Michael Schnitker, Dr. Bodo Wawrzyniak (both Germany, Finance), Dorothee von Einem (Germany, Employment), Claudia Stremel (Germany, Tax)
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. 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.