Noerr advises CONREN Land on acquiring HBB property in Karlsruhe

Noerr has advised the investment company CONREN Land on acquiring the mixed-use commercial property located at Zeppelinstrasse 2 in the Karlsruhe neighbourhood of Grünwinkel for a special real estate fund.

The seller is the HBB Group, which bought the property in 2018. The fully leased multi-tenant building has 9,500m² of rental space. Around 5,900m² of this is office space, 2,600m² is used by medical practices, 170m² is residential space and 800m² is warehouse space. The tenants of the property, which was built in 1993, include the automotive company ViGEM, the DTZ dialysis centre and the i-Rad radiology centre.

CONREN Land is a Frankfurt investment advice and asset management company focusing on office properties. The lenders are institutional investors and private individuals (family offices).

Noerr has acted for CONREN Land before. This time, Noerr’s work comprised legal advice (including reviewing the acquisition/due diligence) as well as support with tax and investment law for the transaction.

Advisors to CONREN Land: Noerr Partnerschaftsgesellschaft mbB

Real Estate Investment Group: Tim Behrens (associated partner),
Alexander Jänecke (partner) and Luca Marie Toth (associate, all Real Estate Investment Group, Frankfurt)

Public law
Peter Bachmann (partner), Ines Coenen (senior associate, both Munich)

Tax/investment law
Martin Haisch (partner, Frankfurt am Main)
Sebastian Leidel (senior associate), Lukas Conrady (both Munich)