Press Release, 25 April 2019

Munich, 25 April 2019 – LPA-GGV Munich has advised Aberdeen Standard Investments on the sale of the DIY store OBI “Am Gleisdreieck”  in Munich to ECKPFEILER Group. Seller is a fund managed by Aberdeen Standard Investments.

The property has been constructed in 2009 on an area of approx. 24,000 sqm located in the Munich district of Neu-Aubing and consists of a floor area of approx. 11,000 sqm. The property is let to OBI GmbH, which operates around 350 DIY stores in Germany. The lease agreement still runs until 2029.

Aberdeen Standard Investment is one of the world’s leading investment companies and is continuously advised by LPA-GGV in the acquisition and sale of commercial real estate.

Seller:

LPA-GGV Rechtsanwälte Steuerberater (Munich): Dr. Fabian Tross (Partner, Lead Advisor, Real Estate), Dr. Bernd Spieth (Tax), Loreen Werner (Associate, Real Estate)

Buyer:

Heuking Kühn Lüer Wojtek (Düsseldorf): Christoph Nöhles, LL.M (Boston University) (Real Estate), Dr. Peter Vocke (Real Estate)