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Advising Viridium on the sale of the "Millennium Portfolio" to Commerz Real

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Scheel Jochen
Dr Jochen Scheel


Frankfurt am Main

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Dr Christian Hilmes



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27 September 2019

Allen & Overy has advised the Viridium Group on the sale of Generali Lebensversicherung AG's "Millennium Portfolio" to Commerz Real. 

Generali Lebensversicherung AG is a portfolio company belonging to the Viridium Group, the leading specialist for efficient portfolio management in life assurance. Commerz Real, a company belonging to the Commerzbank Group, acquired the real estate portfolio for its open real estate fund HausInvest. The parties have agreed not to disclose the purchase price.

The "Millennium Portfolio" comprises 26 office, 14 residential and 9 retail properties with a total rental space of over 352,000 square metres in premium locations in Germany's top 7 cities, namely Berlin, Düsseldorf, Frankfurt am Main, Hamburg, Cologne, Munich and Stuttgart, as well as Leipzig and Unterhaching. 

The Allen & Overy team was led by partners Dr Jochen Scheel (Frankfurt) and Dr Christian Hilmes (Hamburg, both Real Estate) and comprised partners Dr Jan Schröder (Corporate Insurance, Düsseldorf), Dr Heike Weber (Tax) and Dr Stefan Henkelmann (International Capital Markets), counsel Matthias Fischer (Real Estate, all Frankfurt), Dr Michael Fink (Corporate/M&A), Dr Achim Schmid (Corporate Insurance, both Düsseldorf), Dr Udo H. Olgemöller (Public Law, Frankfurt) and René Galle (Antistrust, Hamburg), senior associates Dr Riccardo Marinello (Real Estate), Lennart Dahmen (International Capital Markets), Mark Stock (Corporate/M&A) and Tim Spranger (Tax), associates Dr Anna Opel (Public Law), Hasan Kaya and Simon König (both Real Estate, all Frankfurt) and Senior Transaction Officer Oliver Ahnseel (Real Estate, Hamburg).

The Viridium Gruppe was advised in-house by Dr Frank Weißhaupt (Group General Counsel, Head of Legal) and Silke Richter-Benz (Senior Legal Counsel).