Watson, Farley & Williams has advised US logistics developer Panattoni Europe (“Panattoni”) on the legal and tax aspects in relating to the sale of two logistics buildings in Bremen and Bodenheim near Mainz, Germany, to Goodman Princeton Holdings, a joint venture between the US REIT Chambers Street Properties and the logistics building specialist Goodman.

Having supported Panattoni on the development of both projects, which were completed in 2012, the WFW team has continued to advise on the subsequent exit sale tapping into the sectors of property law, infrastructure & logistics as well as tax and corporate law.

The 29,000m^2 property in the industrial estate Hansalinie in Bremen has been fully let to automobile supplier Lear Corporation. The logistics building in Bodenheim, approximately 41,000m^2, has been let to the logistics company Geodis and the furniture store chain Poco Domane.

The WFW Germany team was led by partner Dr. Ivana Mikesic (Regulatory and Real Estate, Frankfurt). She was supported by partner Verena Scheibe (Tax and Structuring, Hamburg) as well as associates Anastasiya Korolchenko (Regulatory and Real Estate, Frankfurt) and Dr. Wichard von Hoff (Project & Structured Finance, Hamburg).

The buyer was advised by real estate partners Felix Greuner and Dr. Christof Hupe of K&L Gates in Berlin.