Greenberg Traurig advised GLP on the acquisition of a building plot in Simmern, Rhineland-Palatinate, as part of a so-called off-market deal. The parties agreed not to disclose the purchase price.
With this transaction, GLP, an investment manager and developer of, among other things, logistics real estate, plans to reposition its site: Together with the neighboring property, of which GLP is already the owner, a new logistics center is to be built on the site, which has a total area of 117,000 square meters. Construction is scheduled to start in 2025.
The logistics property is to be realized in accordance with the environmental protection criteria of the German Sustainable Building Council (DGNB) and, with a total of 75,500 square meters of sustainable, modern rental space, is to be certified to at least DGNB Gold. The building is expected to be independent of public power and require no fossil fuels.
Greenberg Traurig comprehensively advised GLP on all legal aspects in the areas of real estate/M&A and construction law.
Background:
GLP is an existing client of Greenberg Traurig in Warsaw. The German office advised GLP for the first time.
With this transaction, GLP, an investment manager and developer of, among other things, logistics real estate, plans to reposition its site: Together with the neighboring property, of which GLP is already the owner, a new logistics center is to be built on the site, which has a total area of 117,000 square meters. Construction is scheduled to start in 2025.
The logistics property is to be realized in accordance with the environmental protection criteria of the German Sustainable Building Council (DGNB) and, with a total of 75,500 square meters of sustainable, modern rental space, is to be certified to at least DGNB Gold. The building is expected to be independent of public power and require no fossil fuels.
Greenberg Traurig comprehensively advised GLP on all legal aspects in the areas of real estate/M&A and construction law.
Background:
GLP is an existing client of Greenberg Traurig in Warsaw. The German office advised GLP for the first time.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2500 attorneys in 43 locations in the United States, Europe, Latin America, Asia, and the Middle East. The firm reported gross revenue of over $2 Billion for FY 2021 and is consistently among the top firms on the Am Law 100, Am Law Global 100, and NLJ 250. On the debut 2022 Law360 Pulse Leaderboard, it is a Top 15 firm. Greenberg Traurig is Mansfield Rule 5.0 Certified Plus by The Diversity Lab and the Center for Resource Solutions Green-e® Energy program certifies that the firm’s U.S. offices are 100% powered by renewable energy. The firm is often recognized for its focus on philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com.