Clifford Chance advised METRO PROPERTIES, the real estate subsidiary of METRO GROUP, on the divestment of the majority shareholding in 10 Real hypermarket sites to Carlton Investment as part of a joint venture.

Carlton Investment is a joint enterprise between Hildesheim-based Lüder group and Berlin-based investor Jan Wehle. The transaction relates to the so called “Socrates portfolio,” which METRO PROPERTIES had reacquired from the DELEK Group in 2014.

The properties were transferred into a holding company in which METRO PROPERTIES holds a 40% stake and Carlton Investment a 60% stake. The Real hypermarket sites that form part of the transaction are located at Bremerhaven-Pferdebade, Castrop-Rauxel, Gross-Gerau, Darmstadt, Freiburg (Gundelfinger Strasse), Heidenau, Würzburg (Nürnberger Strasse), Wetzlar, Raunheim and Wiesbaden (Mainzer Strasse). All properties were secured for Real through long-term rental agreements.

The Clifford Chance team was led by partner Reinhard Scheer-Hennings (Real Estate, Düsseldorf) and comprised partners Dr. Christoph Holstein (Corporate/M&A, Düsseldorf) Dr. Florian Mahler (Banking & Capital Markets, Düsseldorf), Joëlle Hauser (Corporate, Luxembourg), counsel Dr. Moritz Pöschke (Corporate/M&A, Düsseldorf) as well as senior associate Sascha Nolte (Corporate, Luxembourg) and associates Philipp Schott (Real Estate, Düsseldorf), Kevin Wilcock and Bahar Rahimyar (both Banking & Capital Markets, Düsseldorf).