McDermott Advises Leading European Logistics Firm Fiege Group on Sale of the « Spectrum » logistics property to DWS Group
Düsseldorf, June 10, 2021 – McDermott Will & Emery advises Fiege Group on its sale of the « Spectrum » (Fiege Mega Center) logistics property in Hamburg to the DWS Group.
The transaction involves a forward sale and leaseback with Fiege to remain a long-term tenant. DWS, one of the world’s leading asset managers, acquires « Spectrum » for the real estate funds « grundbesitz europa » and « grundbesitz Fokus Deutschland ».
The « Spectrum » property is located in the south-east of Hamburg. On a site of approx. 160,000 sqm the property currently has a usable area of just under 80,000 sqm; by 2022 a 18,000 sqm building section will be added by Fiege, which the company will also lease on a long-term basis.
The Fiege Group, headquartered in Greven, Westphalia, is one of the leading logistics service providers in Europe. With around 19,000 employees at more than 150 locations in 14 countries, Fiege is active around the globe.
The transaction was the third successful collaboration between Fiege and McDermott as to the development and placement of logistics properties in recent months.
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