Overview
Frankfurt, June 21, 2023 – McDermott Will & Emery advised Luxembourg-based asset and investment specialists REInvest Asset Management on the acquisition of Reclam-Carrée and Städtisches Kaufhaus in Leipzig, Germany. REInvest is acquiring both properties for a major German insurance company from a property company held by a family office based in Switzerland.
For the two historic building complexes at Inselstrasse 22 and Neumarkt 9 modern utilization concepts are planned. The Reclam-Carrée, built in the 19th century as a publishing house and printing plant, has 20,000 square meters of rental space and is almost fully let. The listed Städtisches Kaufhaus has a total rental space of just over 22,000 sqm, and also has anchor tenants with long-term leases.
REInvest Asset Management S.A. was founded in 2017 in Luxembourg and today manages and develops real estate assets worth more than €2.3 billion in 13 European countries. To date, the company has completed over 210 real estate transactions with a volume of more than €4.85 billion.
The McDermott team advising REInvest was led by partner Dr. Maximilian Clostermeyer and comprised partners Frank Müller and Dr. Heiko Kermer as well as associates Tina Knecht, Elena Platte, LLM and Hannah Henseling.
