ILG acquires local neighborhood shopping center in Straubing with Heuking Kühn Lüer Wojtek
February, 2020 - Germany
ILG acquired a neighborhood shopping center in Straubing on behalf of an institutional fund from SRILA Projekt GmbH with main shareholders VR-Bank Rottal-Inn eG and RMI Immobilien. A team led by Klaus Weinand-Härer and Dr. Frank Baßler, both Partners at Heuking Kühn Lüer Wojtek, advised ILG group on the acquisition. The parties agreed not to disclose the sales price.
The neighborhood shopping center at Landshuter Strasse 131-143 in Straubing opened in 2012 and has a leasable space of 4,300 square meters. Edeka, dm Drogeriemarkt, and denn's Biomarkt are the center’s anchor tenants. Throughout 2020, ILG intends to acquire specialist retail and neighborhood shopping centers with a volume of more than EUR 200 million on behalf of this and other funds.
ILG group is a specialist for German retail real estate operating in the business areas capital, asset, property, and center management. Owner-managed ILG group currently manages properties with a value in excess of EUR 1.4 billion and more than 880,000 square meters of retail space. The overall occupancy rate stands at 98 percent.
Counsel to ILG group
Heuking Kühn Lüer Wojtek:
Dr. Frank Baßler (Lead, Real Estate),
Dr. Nicole Armingeon (Public Law),
Andreas Lutz (Real Estate), all Stuttgart
Klaus Weinand-Härer (Lead, Tax),
Adam Brockmann (Tax), both Frankfurt
Marc Baltus (Energy), Düsseldorf
