Pinsent Masons advises Redefine International P.L.C. on the disposal of its German retail portfolio for EUR 205 million

07 Nov 2017 | 10:05 am | 1 min. read

International Law Firm Pinsent Masons has advised Redefine International P.L.C., the FTSE 250 income focused UK-REIT, on the sale of the Leopard (German supermarket) Portfolio for EUR 205 million.

Redefine International disposed its indirect shares in 11 target companies and two single assets by means of a mixed asset and share deal including the transfer of existing loans. Patrizia Alternative Investments GmbH acquired the portfolio for a foreign pension fund. 

The Leopard Portfolio comprises 66 German retail properties including a mixture of stand-alone supermarkets and foodstore anchored retail parks, mainly let to Edeka, Netto and Lidl as well as to dm and Rossmann, totalling over 138,000 square metres of lettable space. 

Pinsent Masons Germany advised Redefine International on all legal aspects of the sale, with assistance from the Pinsent Masons team in Dublin. The Munich team, led by Jörn Fingerhuth (Head of German Real Estate) and Mark Leonhard (Head of German Banking & Finance) previously advised Redefine International on the acquisition of a major part of the portfolio in 2015 and on the subsequent refinancing.

Due to the complex cross-border corporate structure the transaction involved several jurisdictions – including not only German law but also the laws of Luxembourg, Ireland and British Virgin Islands. This required a highly experienced, multi-jurisdictional legal project management team for both the seller and the buyer.

The Pinsent Masons team advising Redefine International P.L.C on the deal comprised of Jörn Fingerhuth (Partner, Real Estate/M&A, Munich, lead management), Mark Leonard (Partner, Real Estate Finance, Munich), Werner Geißelmeier (Partner, Real Estate Tax, Munich), Dr. Michael Reich (Partner, Merger Control, Munich), Dennis Agnew (Partner, Corporate, Dublin), Julia Stubert, LL.M., Yasmin Ali, Irene Azzariti, Dr. Johannes Maidl, Dr. Florian Anselm, Marina Arntzen, LL.M., Olivia Irrgang, Dr. Alexander Kast, LL.M. (all Real Estate/M&A, Munich), Domenico Schwan (Real Estate Finance, Munich).

Other advisers: HauckSchuchardt was advised by Dominik Berker. MNKS, Luxemburg was advised by Saskia Myners (Partner), Jean-Philippe Smeets, Mélissandre Demarcq, Anna Gassner. Patrizia Alternative Investments GmbH was advised by Allen & Overy.

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