Dentons advises PATRIZIA on the acquisition of the Sparda Bank West building in Munster
Dentons has advised real estate investment company PATRIZIA on the acquisition of a high-value office building in Münster, Germany. The seller and long-term tenant is Sparda-Bank West eG, which has occupied the building since 1999.
The architecturally distinctive building in the northern center of Münster comprises 5,700 sq.m. of space on four floors, which are used exclusively by Sparda-Bank West as a branch of the bank. A large residential park with more than 500 residential units is being created in the immediate vicinity of the building, further enhancing the attractiveness of the location.
A globally active company, headquartered in Germany, PATRIZIA has been offering investments in real estate and infrastructure for institutional, semi-professional and private investors for 36 years. The company currently has more than €45 billion assets under management and is active in 24 locations worldwide.
A Dentons team from Düsseldorf and Berlin led by Dr. Dominik Thomer and David Zafra Carollo advised PATRIZIA on the transaction.