Field Fisher Waterhouse advises TITAN Nadlan on entering the German property market
16 August 2011
Field Fisher Waterhouse 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 Field Fisher Waterhouse 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:
Field Fisher Waterhouse (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:
Field Fisher Waterhouse Deutschland
LLP
Philipp Stricharz