McDermott Advises SIGNA on Commerz Real Taking Stake in Kaufhof Portfolio

Présentation


Düsseldorf, December 4, 2019 – McDermott Will & Emery has advised SIGNA Prime Selection AG on the sale of a 20 per cent stake in ten Kaufhof department stores to Commerz Real.

The portfolio comprises premium locations in Berlin, Munich, Frankfurt, Düsseldorf, Cologne, Bonn, Stuttgart, Hanover and Mannheim as well as more than 370,000 sqm of rental space. The department stores are leased to Galeria Kaufhof on a long-term basis.

McDermott advised SIGNA on all legal aspects of the transaction. McDermott had recently advised SIGNA on the takeover of Kaufhof from Hudson’s Bay Capital. SIGNA’s overall investment comprises both the real estate portfolio consisting of 59 Kaufhof department stores in Germany and the operating business of Galeria Kaufhof GmbH.

The McDermott team advising SIGNA was led by Sebastian von Lossow and included Jens Ortmanns, Frank Müller, Gregor Lamla, Ulrich Flege, Oliver Lieth, Kian Tauser, Jan Hückel, Christian Krohs, Renate Prinz, Julian Schmitz, Sebastian Bonk, Catharina Dickhäuser, Max Küttner, Alexander Hoppe, Florian Schiefer, Carina Kant, Anja Bertrand, Lars Olßon, and Marion von Grönheim.

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