McDermott Advises SIGNA on Commerz Real Taking Stake in Kaufhof Portfolio
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.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. With 20 locations on three continents, our team works seamlessly across practices, industries and geographies to deliver highly effective – and often unexpected – solutions that propel success. More than 1,100 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.