Press Release on 29 September 2017

Munich, 29 September 2017 – LPA has advised the investment company of the British insurance group Aberdeen Standard (formerly: Standard Life Investments) on the sale of an office building.

The object consists of two separate office buildings at Von-der-Tann-Straße in Nuremberg, Bavaria. The property is currently fully let and includes about 40,000 sqm total lettable area and a spacious parking area with more than 900 parking spaces. The main tenant is Siemens AG, who has used the object for their sales and service unit for many years. Further areas are let to Fujitsu.

Purchaser of the object is Investa Real Estate. Investa is planning a revitalisation and expansion of the buiding by way of construction of a new office and also – in cooperation with their joint venture-partner immosens – the construction of living areas.

Seller is Aberdeen Standard Investments, which was formed through the merger of Aberdeen Asset Management PLC and Standard Life plc in August 2017.

Advisors: 

LPA Rechtsanwälte Steuerberater (Munich): Dr. Fabian Tross (Lead Advisor, Real Estate), Gerhard Köglmeier (Tax), Andreas Feuerstein (Financing), Victoria Zilliken LL.M. and Loreen Werner (both Real Estate)

BNP Paribas, Frankfurt am Main/Munich