LAWFUEL – Law News, Law Jobs Network- Linklaters has advised MEAG, the asset manager of Münchener Rück and the ERGO Insurance Group, on the sale of a portfolio of German commercial and residential properties valued at more than EUR1bn (£0.67bn).
The portfolio’s commercial properties were purchased by Whitehall, a fund owned by US investment bank Goldman Sachs, whilst Patrizia, a listed German fund, purchased the residential element consisting of 6,805 mainly houses and flats.
The Linklaters team which advised MEAG was led by real estate partner Dr Wolfram Pätzold, in Munich, Germany, and included Agnes Bosse, Adrian Birnbach, Beate Stüve-Brammen, Johanna Schussmüller (all real estate), Marianne Waldenmaier (labour law) and Dr. Carsten Grave (competition).
MEAG has about EUR183bn (£123bn) of assets under management, of which €14bn (£9.4bn) are invested in the property market.
Linklaters has advised MEAG since 2001 and has acted on purchases in the UK, France, Belgium, Italy, Spain and Poland.