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Fieldfisher has advised Israeli investor group TITAN Nadlan on acquiring a shopping centre from the assets of insolvent Prisma Grundbesitz GmbH & Co. Renditefonds III KG. The seller was represented by immofori AG, a special service provider for distressed portfolios of real estate loans. Both parties agreed not to disclose the purchase price.
The acquisition of the shopping centre that was built on the premises of a former dairy in Emden (Lower Saxony) in 1997 is TITAN Nadlan’s first transaction in Germany. The Israeli real estate investor and property developer has so far focused on commercial objects in Bulgaria, Israel and the USA. Matan Winner will be heading the German investment arm. The Israeli lawyer and accountant managed a team in the real estate transactions department of Kost, Forer, Gabbay & Kassierer (Ernst & Young Israel) until 2009.
Led by partner Philipp Stricharz, a team of Fieldfisher lawyers from the firm’s Hamburg office advised on all legal aspects of the acquisition, including negotiating with the previous mortgage creditors, and also set up the corporate structure of TITAN Nadlan’s German business.
Advisors TITAN Nadlan:
Fieldfisher (Hamburg): Philipp Stricharz, Victor-Alexander Martins Kuenzel (Real Estate), Dr. Florian Streiber (Corporate)
Inhouse (Tel Aviv): Matan Winner
Advisors immofori:
Inhouse (Hamburg): Sabine Beth, Michael Meinke
For further information please contact:
Fieldfisher Deutschland LLP
Philipp Stricharz