WFW advises TAG Immobilien AG on the €103 million acquisition of 2,300 residential units

27 November 2014


Watson Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised TAG Immobilien AG (“TAG“) on the acquisition of an extensive residential real estate portfolio containing approximately 2,300 residential units, effected by share deal. The purchase price is €103 million.

The real estate assets are spread out across various federal states in North and East Germany. 626 residential units are situated in the cities of Nordhausen and Stadtilm, near Erfurt, in the state of Thuringia. A further 1,064 units are located in North Germany, mainly in the cities of Kiel and Itzehoe. The total rentable space of the flats is approximately 147,000m2. The transfer of ownership, benefits and encumbrances is planned for the first quarter of 2015. The residential portfolios are owned by Luxembourg-based companies, which have been acquired as part of this transaction.

TAG is an MDAX-listed real estate group and serves as a holding company for a diversified real-estate group whose activities include the acquisition, development and management of residential real-estate. With the acquisition of this portfolio, TAG further consolidates its strategy to reinvest in regions with considerable development potential and highly profitable portfolios in order to pursue further growth.

WFW’s Hamburg-based team was led by partner Dr. Sebastian Baum (Corporate/Real Estate). He was supported by partner Verena Scheibe (Tax) as well as associates Dr. Henrik Lay (Tax), Florian Leonhard and Ursula Staab (both Corporate/Real Estate). In Luxembourg, TAG was advised in cooperation with WFW by Van Campen Liem’s Marcello Distaso (Tax) and Aldo Schuurman (Corporate).

Lead partner Dr. Sebastian Baum commented: “We are delighted to have advised our long-standing client TAG on another successful acquisition. Once again, the trusted and experienced cooperation between TAG and WFW has undoubtedly contributed to the efficient conclusion of this transaction.”