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Summit acquires a big commercial property portfolio in Wolfsburg, Germany

The Summit Real Estate Group, which is listed on London’s Stock Exchange, acquired a big commercial property portfolio consisting of 22 building complexes worth € 105 million. € 66 million of the value are financed by borrower’s note loans. The majority of the buildings are factories, office and logistic buildings let to companies of the VW Group and VW suppliers.

The transaction was structured as a share deal and the financing by borrower’s note loans was taken over by Summit.

The counsel team consisted of Marcus Columbu, Dr. Fabian Laugwitz, MBA, LL.M. Eur., Fabian Brocke, LL.M. and Monique Meyerer and was headed by Dr. Tara Kamiyar-Müller and Dr. Matthias Müller, MBA.

act legal Germany advises Summit regularly in all aspects of real estate law, including ongoing real estate administration and transactions.

Press release: http://www.morningstar.co.uk/uk/news/AN_1498471287449991400/summit-germany-acquires-wolfsburg-portfolio-for-eur1000-million.aspx

Press release (in German language): http://www.juve.de/nachrichten/deals/2017/08/immobiliendeal-summit-erwirbt-mit-ac-tischendorf-immobilienportfolio-in-wolfsburg