Real Estate: Germany

THE FIRM This top-tier firm attracts a starring role in many of the market's most significant mandates. The sizeable real estate practice works closely with the real estate finance team and has insight into numerous industries, such as the healthcare, energy and financial sectors. It recently advised Allianz on its acquisition of 80% of the Skyline Plaza Development, and represented Commerzbank in the prestigious sale of the Frankfurt 'Silberturm' high-rise building to an investment consortium led by IVG Immobilien. 

KEY INDIVIDUALS Sources describe top-ranked partner Klaus Minuth as extremely personable and easy to work with. He also wins praise for his accurate advice and long-standing experience.

Jörn Stobbe is highly recommended for complex transactions: "If your counterparty is difficult to deal with, Stobbe has the right skills to bring people back to the point." Clients appreciate his "quick, deal-driven" approach.

Clients admire Christian Keilich's pragmatic approach, saying: "He reads between the lines and tries to find compromises."

Practice head Cornelia Thaler is well regarded in the field and recently advised the Investa Property Group on the sale of the Giesing health centre to Raffeisen Investment.

Reinhard Scheer-Hennings has been involved in a number of important transactions in recent months and continues to receive plaudits for his commercial acumen.

THE FIRM Working closely with its real estate finance department, this real estate practice advises institutional investors, financial institutions, REITs and project developers on the full range of real estate-related issues. It is often involved in the largest and most complex transactions in the market, and also boasts tremendous international reach. A recent highlight saw the team advise JPMorgan Asset Management and the Government of Singapore Investment Corporation on their acquisition of the Frankfurt 'OpernTurm' high-rise building.

Sources say: " The team is responsive, commercial, very good at negotiations, and the quality of its output is also excellent; it is simply very good at what it does."

KEY INDIVIDUALS Clients hail the "truly outstanding" Johannes Conradi as "one of the best real estate lawyers in Germany." Market observers believe he "strikes the right balance between commercial and legal knowledge."

Department head Friedrich Heilmann enjoys strong market visibility and recently advised Credit Suisse Asset Management on the sale of the Marktgalerie shopping centre in Leipzig.

Cologne-based Thorsten Kleine recently advised real estate company Prime Office REIT on its IPO on the Frankfurt stock exchange.

THE FIRM This robust real estate practice boasts a diverse client roster of institutional investors, banks, project developers and state authorities. Drawing on a stellar track record in the hotel and leisure sectors, the team advises tourism company Pierre et Vacances on an ongoing basis and recently assisted it with its development of a holiday park in Germany. The team also recently advised ARAG Lebensversicherung on its acquisition of an office building from STRABAG Real Estate.

Sources say: "The lawyers are solution-oriented and cost-efficient; they work very efficiently and make it a smooth process from day one."

KEY INDIVIDUALS Hinrich Thieme often handles large, complex transactions. As one client enthuses, "having him at your side in difficult contract negotiations is a very good thing!"

Experienced practitioner Roland Bomhard is a respected figure in the real estate arena and now heads the practice. "Fair and also smart. He doesn't just argue for the sake of it but tries to find solutions," say sources.

Frankfurt office managing partner Marc Werner provides ongoing advice to Prologis on real estate acquisitions.

Sabine Reimann's main areas of focus are real estate transactions, commercial leases, litigation and project development. She is praised for her "proactive and reactive" approach to real estate matters, and long-standing experience in this area.

THE FIRM This enterprising real estate practice is making strides in the market, impressing sources with its stellar performance over the last year. The Berlin-based team handles the full gamut of real estate matters and is present on a wide range of high-profile transactions. Notable mandates include advising Dundee International REIT on its EUR740 million investment in a fund platform with 292 commercial properties in Germany.

Sources say: "The partners are all fast, pragmatic and very accurate. Olswang gives you the same quality and service as the bigger firms but with the added bonus that you get a direct link to the partner."

KEY INDIVIDUALS Practice head Christian Schede is admired for his skill in negotiations, with clients saying: "He is very elegant and experienced. You feel safe with him at your side." Sources also praise his strong commercial instinct and hands-on, responsive approach.

Sources admire Peter Schorling for his "detailed and efficient" working style. As one client notes, "you can give him a specific task and he will follow it precisely."

Senior associate Florian Rösch concentrates on commercial real estate transactions and project development.

THE FIRM Sources commend this firm's excellent domestic and pan-European resources, and ability to deal with high-volume transactions. Despite challenging economic conditions, the team remains busy advising on asset management, M&A support and transactional work. It has a long-standing relationship with Allianz and recently assisted Allianz Real Estate Germany and MGPA Germany with their purchases of retail outlets from Aldi Süd. It also frequently advises clients from the hotel and healthcare sectors.

Sources say: "The firm's organisation is excellent and its offices interact seamlessly with each other. The partners are very good at handling large-volume cases."

KEY INDIVIDUALS Dirk Rodewoldt's broad-ranging practice covers construction, environment, public, PPP, and energy and infrastructure. He recently advised Credit Suisse on its acquisition of an office building from HOCHTIEF.

Berlin-based lawyer and notary Hermann Stapenhorst wins praise for his in-depth sector knowledge. He is primarily active in transactions within the hotel and leisure industries. 

Clients are impressed with Heinrich Schirmer's "ability to structure complex transactions and deliver timely results. A highly committed lawyer."

THE FIRM The 11-partner team at this firm concentrates on large transactional mandates, where it works closely with the real estate finance department. It acts for clients drawn from a range of industries, including the financial and retail sectors, and recently assisted WealthCap with its EUR200 million acquisition of commercial buildings in Düsseldorf, Hanover and Hamburg.

Sources say: "The team has very good legal knowledge, gets work done quickly, is contactable 24 hours a day, and does everything to our highest satisfaction."

KEY INDIVIDUALS Peers acknowledge Johannes Niewerth's extensive experience in this field. Clients are equally impressed, saying: "Everything runs smoothly with him on board."

Lawyer and notary Detlef Schmidt advises on domestic and international real estate transactions.

Christian Steinke handles a wide range of real estate-related matters, including development projects, due diligence and sale and leaseback transactions.

Tim Weber is appreciated for his broad knowledge of real estate law and excellent service. "He is very agreeable to work with, dedicated and responds quickly," say sources.

THE FIRM Spread across seven German locations, this well-established firm is able to draw upon an enviable domestic network for resources and expertise. Clients view it as particularly strong in the Munich area, where the real estate team works closely with the construction department. Recent mandates include advising Deutsche Fonds Holding on its acquisition of a Dresdner Bank site on Düsseldorf's Königsallee.

Sources say: "The team's availability, assertiveness and expertise are simply outstanding."

KEY INDIVIDUALS Clients admire Michael Eggersberger's extensive transactional experience and unflappable nature. As one source remarks, "he stays calm whatever the situation."

Michael Jani recently moved to GSK Stockmann from Latham & Watkins. He covers real estate transactions, joint ventures and project development in addition to commercial lease law.

Rainer Stockmann splits his time between real estate, corporate and restructuring mandates.

Gregor Seikel focuses on tax-related issues. Clients commend his work ethic and availability, saying: "He puts in serious effort - extremely hard-working."

THE FIRM Best known for corporate/M&A work, this German heavyweight regularly advises both buyers and sellers on high-volume real estate transactions, commercial real estate leases and asset management contracts. In addition to these core real estate issues, clients benefit from the team's collective expertise in M&A, private equity and financing. Recently the group advised a joint venture led by Highstreet on the sale of a former Karstadt department store in Mainz and two additional Karstadt department stores in southern Germany to ECE.

Sources say: "Champions league quality."

KEY INDIVIDUALS Frankfurt-based Thomas Müller brings his extensive experience of corporate and M&A to big-ticket real estate transactions, where he typically acts for corporate clients.

Commentators regard Georg Frowein as "a very good technician and a pleasure to work with."

THE FIRM This relatively young boutique is making strides in the real estate market. It provides integrated legal and tax services and advises a solid client base of prominent investors, banks and project developers such as Tishman Speyer, AXA Real Estate and Archon Group. Recent highlights include assisting with 20 real estate acquisitions for various institutional funds managed by F&C Asset Management.

Sources say: "The team can hold its own with big names on the other side."

KEY INDIVIDUALS Philipp Jebens is well versed in regulatory and fund structuring. Clients value his pragmatic approach, saying: "He suggests practical solutions and is up to date on industry developments."

THE FIRM This real estate team works closely with the firm's real estate finance and restructuring departments, and continues to expand its impressive client roster. New clients include Forum Partners, IVG and Morgan Stanley Real Estate Funds. The team recently advised long-standing client Union Investment on its acquisition of two shopping centres in Freiburg and Wiesbaden. 

Sources say: "The team's comprehension of issues and ability to respond promptly is faultless."

KEY INDIVIDUALS Senior partner Jürgen Hübner wins tremendous respect for his long-established career in the area. Sources value his experience, saying: "He has a perfect understanding of where we need help and where we don't."

Clients appreciate Cord Lübke-Detring's diplomatic approach to negotiations: "He creates a friendly atmosphere and always tries to find a compromise between different points of view."

Hamburg-based Stefanie Fuerst has notable strength in investment law issues.

Since publication, Jürgen Hübner has retired from this practice.

THE FIRM This firm has been substantially strengthened by the arrival of a team of lawyers from Freshfields. The integrated practice offers advice across the full spectrum of real estate-related issues, including transactions, sale and leasebacks, funds, litigation and restructuring. Recent mandates include advising new client The Blackstone Group on its EUR220 million acquisition of a mixed real estate portfolio from Level One.

Sources say: "Highly professional, well structured and organised. The different departments work closely together so that the lawyer with most experience in the field always deals with the issues in question."

KEY INDIVIDUALS Department head and notary Dirk Lentfer is praised for his "deep knowledge of real estate issues." Clients also remark upon his strong negotiation skills, describing him as an excellent mediator. 

Recent arrival Christoph Brenzinger is widely regarded as a growing talent in the field. As one client enthuses, "he is very reasonable, smart and hard-working. I wouldn't hesitate to use him."

THE FIRM This active real estate practice has been busy with a number of transactional mandates for special and mutual funds such as Warburg-Henderson and Aberdeen Immobilien over the past twelve months. Other standout assignments include advising Cerberus Capital Management on its acquisition of a portfolio of properties from METRO, one of the biggest real estate transactions of the year.

Sources say: "A very engaged team and a well-organised firm." "Very responsive, with excellent partner-level access and a strong depth of support from skilled associates who also do a lot of work on transactions."

KEY INDIVIDUALS Managing partner Peter Junghänel is highly appreciated for his commercial instinct and depth of knowledge: "He can answer every question you throw at him." Sources also highlight his ability to work with international investors, saying: "He can take any jargon or specific customs and put them into an international context."

Liane Muschter co-heads the real estate department and impresses sources with her pragmatic, knowledgeable and solution-oriented approach to transactions. "She can see both sides of a deal," say sources.

THE FIRM This firm is traditionally known for insolvency work but has become increasingly visible in the real estate market over the past couple of years. The team provides a range of services to domestic and international clients in the real estate arena, including acquisitions, divestments and due diligence.

KEY INDIVIDUALS Sources regard Jan Lindner-Figura as a leading light in lease law matters.

Frank Stellmann complements his legal career with a strong academic profile, holding an honorary professorship at the University of Regensburg International Real Estate Business School.

THE FIRM Standout work highlights and enthusiastic market feedback propel this firm into the rankings. The compact team was involved in two landmark transactions over the past year, showcasing its ability to handle high-volume deals for both domestic and international clients. The team acted for the major shareholders of METRO Group on the sale of a wholesale real estate portfolio to Cerberus Capital Management, and also represented the vendors in the sale of a 50% stake in German shopping centre CentrO Oberhausen.

Sources say: "The firm provides an excellent service and always focuses on the client's needs."

KEY INDIVIDUALS Michael Alberts is the key contact for real estate questions.

THE FIRM This established firm remains a popular choice for investment managers and project developers with real estate issues. The team recently assisted Generali with the acquisition of a retail portfolio and advised LaSalle Investment Management on the acquisition and sale of various projects. Clients appreciate the team's high partner involvement on transactions.

Sources say: "Top-class, hands-on approach."

KEY INDIVIDUALS Matthias Durst has worked on various property sales, acquisitions and project developments over the past year. Clients particularly value his negotiation skills and commend his long-standing experience in the real estate arena.

Sources single out Stefan Lebek as having a rising market profile. He is currently providing ongoing advice to GE Real Estate on its acquisition of various real estate portfolios. 

Carsten Führling "gets to the point quickly and offers straightforward advice," say clients. He frequently advises on real estate project developments.

The talented Wolfram Pätzold recently worked on a project development for Dell.

THE FIRM Working out of Berlin and Leipzig, this experienced team of ex-Clifford Chance partners maintains an excellent reputation in real estate. In addition to advising on transactions, project development and tenancy agreements, the group offers the full range of notarial services.

KEY INDIVIDUALS Market-leading Wolfgang Usinger has enviable expertise in real estate matters. As one source notes, "it is a pleasure to work with him because he knows what he's doing."

Lawyer and notary Jens Bock comes highly recommended by peers.

THE FIRM Focusing on transactions, project development and asset management, this real estate outfit advises a wide range of domestic and international clients, such as real estate investors and family offices. It enjoys a particularly good relationship with Frankonia Eurobau, which it recently advised on financing and management issues associated with five real estate projects.

KEY INDIVIDUALS Sources highlight Patrick Brock's expertise in contracts, adding that he is "very thorough and can combine legal and commercial perspectives."

Daniel Ajzensztejn is strong in transactional matters and wins praise for his excellent interpersonal skills.

THE FIRM This team continues to be active in restructuring and real estate transactions, and maintains a solid reputation for project development. It is currently advising Berlin Schönefeld Airport in connection with heritable rights relating to the forthcoming Berlin Brandenburg International Airport. It is also assisting investors with the development and sale of the Frankfurt Goetheplaza commercial real estate portfolio.

Sources say: "I'm impressed by how quickly the team gets things done and how seamlessly the departments work together."

KEY INDIVIDUALS Notary Ekkehard Moeser concentrates on real estate development issues.

Endrik Lettau heads the firm's German and European real estate groups. His primary area of focus is advising foreign investors on German real estate transactions. 

Clients seek out Stefan Feuerriegel for a clear and pragmatic approach. As one source exclaims, "he comes up with good solutions and has a very uncomplicated way of working. It is a pleasure to work with him."

THE FIRM This domestic group provides ongoing tenancy law advice to real estate and investment funds such as LaSalle and Archon Group. Recent highlights include advising World Trade & Investment Holding on leasing the World Trade Centres in Frankfurt and Munich, and assisting ING Real Estate Investment Management Germany with acquiring and subsequently renting out a portfolio of logistics properties.

KEY INDIVIDUALS Practice head Frank Oprée impresses sources with his pragmatic, commercial approach and broad experience of transactions and commercial leases.

THE FIRM This Berlin-based team is enjoying an increased profile in the real estate market, thanks to recent lateral hires and new client wins. The team has expanded its range of services to include asset management, and attracted new clients such as Commerz Real and Panattoni for transactional issues. The group recently advised Invesco Real Estate on its purchase of a real estate portfolio worth approximately EUR218 million. 

Sources say: "The team swiftly gets on top of matters and always considers what's in our best interests."

KEY INDIVIDUALS Ivana Mikešić is the key contact here. Her broad practice covers regulatory and public law as well as real estate, planning and environment.

THE FIRM With an established presence in five German cities, this international player's real estate practice is rapidly increasing in visibility on the domestic market. It is currently advising Cordea Savills on its acquisition of a retail centre and counts Taurus Investment Holdings and NorthWest Value Partners among its other clients.

Sources say: "The standard from DLA has been excellent across the board."

KEY INDIVIDUALS Frankfurt-based Fabian Mühlen provides advice on all aspects of real estate transactions, and displays an impressive work ethic. "He made himself available 24 hours a day and really went over and above expectations," enthuses a client.

THE FIRM This team is well integrated with the real estate finance department and has undertaken a number of distressed asset acquisition mandates over the past twelve months. It counts a number of financial institutions and investment funds amongst its clients, including Union Investment, BNP Paribas and Merrill Lynch. Long-standing client Hansteen Holdings recently instructed the team regarding ongoing advice on asset management and German real estate transactions.

KEY INDIVIDUALS Sources admire Sandra-Christiane Kamper's dedicated work ethic: "Even if you call her on Christmas Eve she'll be there for you - she works flat out." Commentators also praise her tactful approach to negotiations and good relationship with local authorities.

THE FIRM A major selling point of this international firm's real estate group is its strong notarial practice. Key mandates from the past twelve months include advising Dow Deutschland on the construction of a power plant in Stade, and counselling Tishman Speyer on its sale of an office building in Munich to Warburg-Henderson.

Sources say: "The firm sees you as a person and not just a client."

KEY INDIVIDUALS Clients praise lawyer and notary Hans Hofmann for his calm and composed manner, saying: "He is very good at moderating between parties."