Noerr advises Allianz Real Estate on €500 mln joint venture
International law firm Noerr’s Real Estate Investment Group advised Allianz Real Estate on establishing a 50:50 joint venture for a transaction valued at over €500 million, with European real estate developer VGP, according to a press statement issued today. Noerr’s team consisted of professionals from Germany, Czech Republic, Slovakia and Hungary.
The joint venture was set up to bundle the assets of projects developed by VGP in Germany, Czech Republic, Slovakia and Hungary, with a portfolio focusing on logistics and industrial properties that is continuously expanding, the press statement said. The joint venture is expected to acquire projects exclusively developed by VGP.
Noerr’s CEE Real Estate Investment Group (REIG) is led by Zoltán Nádasdy, Head of the Budapest office.
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