Fried Frank advised Cording Real Estate Group on its representation of a joint venture with real estate investment firm Patrizia Multi Managers in the sale of a retail warehouse center in Mannheim, Germany.
The property provides a total lettable area of 11,200 square meters, and will include 9,700 square meters of retail accommodation (containing Germany's largest two wheel-retail-center), as well as 1,500 meters of office space and 263 parking spaces. The property is let to seven different tenants and the weighted average unexpired lease term (WAULT) is approximately seven years.
Cording Real Estate Group is part of the Edmond de Rothschild Real Estate Investment Management platform.
The Fried Frank team was led by corporate partner Dr. Juergen van Kann and included German tax partner Katrin Gänsler and special counsel Thorsten Stuecklin.