Global law firm Norton Rose Fulbright has advised the real estate company La Française Real Estate Managers on the acquisition of an office building on the RWE campus in Essen.
The transaction has been carried out through the newly formed joint venture HILF Euro Office, which was founded by the La Française Group together with the Korean company Hyundai Investment Partners.
The acquisition of the six-story office complex of the energy supply company RWE AG in Essen is the first transaction of the joint venture. The building, located in downtown Essen, comprises office space of approximately 12,000 square meters. The seller RWE has leased the building back for 17.5 years as part of a sale-and-lease-back arrangement.
The Group La Française manages assets of around EUR 50 billion (as of June 30, 2020) and is represented worldwide with offices in Paris, London, Frankfurt, Hamburg and Munich. La Française is a subsidiary of Caisse Fédérale de Crédit Mutuel Nord Europe (CMNE).
La Française Real Estate Managers was advised on the transaction and the structuring of the sale-and-lease-back agreements by the Frankfurt real estate team of Norton Rose Fulbright, led by partner Dr. Hendrik Theismann. He was supported by Counsel Michael Mehler and Associate Daniela Kowalsky (all Real Estate, Frankfurt). Partner Tino Duttiné and Associate Robert Schmidt (both Tax, Frankfurt) advised on tax law.