Osborne Clarke has advised VK Immobilien Group on the sale of the Turmcenter in Laatzen, Lower Saxony, to Sparkasse Paderborn-Detmold-Höxter.

After the Turmcenter in the “Hildesheimer Strasse” had been owned by VK Immobilien Group for around 20 years, Sparkasse Paderborn-Detmold-Höxter has now acquired it for its portfolio. The property will be included in the Neo Real Estate Fund. Sparkasse Paderborn-Detmold-Höxter holds three other properties and 16 target funds in this umbrella fund. The master fund is managed by HIH Invest Real Estate (HIH Invest).

The VK Immobilien Group was advised on the transaction by Jones Lang LaSalle and Osborne Clarke. The technical due diligence was carried out by Consulting Partners from Hamburg. The legal practice Hoffmann Liebs from Düsseldorf was commissioned with the legal due diligence. 

The local shopping and service centre built in 2004 on an 11,109 sqm site consists of two building sections with a total rental area of 6,569 sqm. Of this, 3,682 sqm are allocated to retail, 2,073 sqm to a fitness studio, 815 sqm to office and practice space and 119 sqm to catering. In total, the property is let to eleven tenants, the largest of which are the Netto supermarket chain and Fitness Future Laatzen. The Turmcenter also has 138 parking spaces.

The Osborne Clarke team that advised the VK Immobilien Group under the lead of Rüdiger Bonnmann consisted of Mareike Klopp (both Real Estate) and Florian Merkle (Tax).

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