#PRESS RELEASES

2 November 2020

GLADE MICHEL WIRTZ advised Deutsche Fonds Holding GmbH (hereinafter "DFH"), Stuttgart, on the acquisition of Assetando Real Estate GmbH (hereinafter "Assetando"), Hamburg, WestFonds Immobilien-Anlagegesellschaft mbH (hereinafter "WestFonds"), Düsseldorf, and other companies in the real estate fund and asset management sector from Ernst Russ AG, Hamburg. Assetando was founded in 2012 and has operated as the central property management unit of Ernst Russ AG since 2016. WestFonds was acquired by Ernst Russ AG in 2016. Assetando and WestFonds complement the portfolio of DFH with a joint portfolio of 29 properties with a volume of around EUR 0.9 billion. The parties have agreed not to disclose details of the planned sale. The transaction is to be implemented in the short term and is subject to approval by the merger control authorities. GLADE MICHEL WIRTZ has advised DFH on several transactions in the past.

DFH has been initiating, placing and managing successfully closed-end real estate funds and asset structure funds for private and institutional investors since 1992. Since the company was founded, DFH has successfully completed 97 transactions with an investment volume of approximately EUR 12.8 billion in the market. DFH is a company of Deutsche Immobilien Holding AG, Delmenhorst, which is also the holding company for the Real Estate division of Zech Group SE, based in Bremen. 

GLADE MICHEL WIRTZ (Düsseldorf):

Dr Marco Sustmann (Partner), Dr Jan Hermes (Salary Partner), Dr Philipp Kordt (Associate) – all Corporate; Dr Christian Karbaum (Partner), Hui Ye (Associate) – both Competition

GLADE MICHEL WIRTZ has worked together with its network partners:

Kliemt.Arbeitsrecht (Labour Law): Dr Alexander Ulrich

honert + partner (Tax Law): Dr Jochen Neumayer

GLADE MICHEL WIRTZ, with currently 25 lawyers, specialises in the areas of Corporate & Competition. As a focused boutique law firm, GLADE MICHEL WIRTZ from Düsseldorf advises companies listed on the DAX30, MDAX or TecDAX, upscale medium-sized companies, which are often market and technology leaders in their sectors, as well as foreign, globally active groups and investors, both nationally and internationally, on corporate and partnership law, M&As, restructuring and reorganisation, antitrust law, in particular with respect to antitrust fine and merger control proceedings, corporate litigation and compliance issues.

The press release is available for download here: GLADE MICHEL WIRTZ advises Deutsche Fonds Holding GmbH on the acquisition of Assetando Real Estate GmbH