Munich, 14 April 2020 – TA Europe has advised Gold Tree Group on the purchase of retail parks worth €70 million. Gold Tree acquired the portfolio from project developer Ten Brinke Group and Zehentner & Seidel Group. Montano Asset Management managed the transaction and will continue to manage the properties. Ten more properties are to be added in the current financial year; the value of the portfolio is expected to increase to €200 million.
The eight retail parks cover a total area of 30,000 sqm. TA Europe was partly responsible for the technical due diligence for five of the eight properties, all of which are leased long-term to well-known food retailers.
The scope of services included the review of the documentation and contractual documents in the preconstruction phase and the comprehensive review of all other documents in the data room, support during the purchase negotiations and the technical risk assessment of the properties. TA Europe was also involved in the handover of the newly constructed buildings at the Halle/Saale location, whose tenants are REWE and Rossmann.
In addition, TA Europe supported the legal due diligence on the buyer side. The law firm Noerr LLP and the consulting firm Fair Audit worked for Gold Tree in this area. The Ten Brinke Group was advised in-house.