Baker & McKenzie advised the Malaysian Employees Provident Fund (EPF) on a joint venture with the Dietz Group as well as the acquisition of an initial portfolio of German logistics and industrial real estate from Dietz Group.
The newly formed joint venture will operate under the name KWASA Dietz Germany GmbH and intends to invest EUR 500mn in equity in logistics and industrial real estate over the next three years.
The EPF is a provident fund formed according to the laws of Malaysia which provides retirement benefits for over 14 million private and non-pensionable public sector employees through management of their savings.
The Dietz Group, headquartered in Bensheim, invests into real estate for more than 25 years and specializes in portfolio and real estate management as well as active management of sales and disposals. The Dietz Group will be responsible for further acquisitions, the developing of investments as well as the asset and property management of the joint venture.
"We are very pleased to be able to support the EPF on this strategic partnership and further investments in German logistics and industrial real estate. The transaction demonstrates the growing interest of foreign institutional investors in German commercial real estate," says Dr. Florian Thamm, lead partner and Chair of the EMEA Real Estate Group of Baker & McKenzie.
EPF Relationship Partner, Justin Salkeld added "This transaction is the latest in a series of recent European investments on which we are proud to have advised the EPF and their second major joint venture regarding logistics real estate in Germany."
Baker & McKenzie's Real Estate Group regularly advises strategic investors on real estate transactions and restructurings. Most recently, Baker & McKenzie advised Peakside Capital on the sale of the Square 41 office building in Frankfurt, and Al Rayyan Tourism & Investment Co. on the acquisition of the Grand Hyatt Berlin at Potsdamer Platz and the Maritim Hotel in Berlin's embassy district.
Legal Advisor EPF: Baker & McKenzie
Lead:
Real Estate/Corporate: Dr. Florian Thamm (partner, Dusseldorf)
Team:
Real Estate: Justin Salkeld (partner, London), Dr. Niklas Wielandt (associate, Berlin), Dr. Daniel Bork (associate, Dusseldorf)
Corporate: Dr. Christian Vocke (partner, Frankfurt), Jean-Francois Findling (partner, Luxembourg), Vanessa Maier (associate, Frankfurt), Torsten Schmitt, (Partner, Luxembourg), Sabine Juli (associate, Luxembourg)
Antitrust: Dr. Nicolas Kredel (partner, Dusseldorf), Clara Spanachi (associate, Dusseldorf)
Private Equity & Funds: James Burdett (partner, London)
