Düsseldorf/Munich/Warsaw—Global law firm Dentons has advised investment company Palmira Capital Partners on four separate transactions to acquire corporate and logistics properties in Germany and Poland. All acquisitions were completed in December 2022.

In Trier, Rhineland-Palatinate, Palmira acquired the ‘Wissenschaftspark’ (Science Park). The eight-building office park, with a total area of approx. 27,700 sq. m., is let to over 80 tenants, including the University of Trier and the Federal Institute for Real Estate. The vendor of the property is a company in the Saarbrucken-based Munitor Group.

In Kassel, northern Hesse, Palmira acquired the Schmidtsche Schack/Arvos production property in a sale-and-lease-back deal. It is let for 15-years on a long-term basis. Providing around 18,900 sq. m. of lettable space, the property comprises office, warehouse and production space. It is the headquarters of one of the world's leading manufacturers of heat transfer solutions.

In the Bavarian town of Puchheim, it purchased the commercial park "Ikaruspark" with approximately 14,500 sq. m. of office and warehouse space. The property is let to over 30 companies from various sectors. The vendor is a property company owned by S Immo AG. All three properties were acquired for Palmira’s Unternehmensimmobilien Club 2 (UIC 2) fund, which now comprises 11 properties and has grown to over €220 million in property assets.

In addition, Palmira acquired the logistics property "Sosnowiec Park" in Sosnowiec, Poland for its Palmira European Core Logistics Fund (ECLF). Standing on a site of approximately 59,700 sq. m., it provides a lettable area of around 32,000 sq.m. The property, constructed in 2020, is fully let to five tenants.

Dentons advised Palmira on all legal aspects of the transactions. Partner David Zafra Carollo (Dusseldorf) led the legal team on all four deals, alongside counsel Jessica Vorster (Munich) on the Trier and Puchheim deals, counsel Janina Diesem (Dusseldorf) on the Kassel deal, and partners Monika Sitowicz (Warsaw) and René Dubois (Munich) on the Polish deal.

Dentons regularly advises the client on the real estate transactions in the European market, most recently on the acquisition of corporate properties in Dietzenbach, Bonn and Dortmund as well as a cross-dock logistics site in the Netherlands.

Advisors to Palmira Capital Partners

Trier and Puchheim transactions: 

• Dusseldorf: David Zafra Carollo (Partner, Real Estate), Dr. Niklas Gustorff (Associate, Real Estate), Tim Schinkel (Associate, Corporate), Dr. Dominik Thomer (Partner, Tax), Nicole Lucks (Associate, Tax)
• Munich: Jessica Vorster (Counsel, Real Estate), Stefan Wintershoff (Associate, Corporate), Léna Feldle von Schickfus und Neudorff (Transaction Lawyer, Real Estate)
• Frankfurt:  Samira Bouzakri (Senior Associate, Real Estate)
• Berlin: Christoph Blotenberg (Associate, Real Estate), Birte Klasmeier (Associate, Real Estate), Holger Hölkemeier (Senior Associate, Tax), Laura Appell (Counsel, Public Law)

Kassel transaction: 

• Dusseldorf: David Zafra Carollo, Janina Diesem (Counsel, Real Estate), Dr. Dominik Thomer, Nicole Lucks
• Frankfurt: Samira Bouzakri
• Berlin: Holger Hölkemeier

Sosnowiec transaction: 

• Düsseldorf: David Zafra Carollo, Alexander Mühleisen (Counsel, Real Estate), Dr. Dominik Thomer, Nicole Lucks
• Warsaw: Monika Sitowicz (Partner, Real Estate), Lukasz Zwiercan (Managing Counsel, Real Estate), Weronika Nowosielska (Junior Associate, Real Estate), Tomasz Krasowski (Managing Counsel, Tax), Damian Bugaj (Senior Associate, Tax), Marcin Gruszka (Senior Associate, Banking and Finance), Marcin Urbanski (Associate, Corporate)
• Munich: René Dubois (Partner, Real Estate), Dr. Elisa Kluge (Senior Associate, Real Estate)
• Frankfurt: Dr. Bodo Zöll (Of Counsel, Real Estate)
• Berlin: Holger Hölkemeier

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