Norton Rose Fulbright advises IMAXXAM on the acquisition of a life sciences campus in Hamburg for real estate fund

Global law firm Norton Rose Fulbright has advised IMAXXAM, an independent partner for the management of real estate investments, on the acquisition of a life sciences campus located on Fangdieckstraße in Hamburg. The property was acquired for the real estate fund German Small Asset Invest (GSAI). The transaction was structured as an asset deal. The seller of the property was CLS Holdings.

Completed in 2000, the building complex provides approximately 13,000 square metres of lettable space across five above-ground floors and one basement level. The property comprises office, service, laboratory, training and storage facilities. It also includes 109 underground parking spaces and 55 outdoor parking spaces.

The anchor tenant of the almost fully let property is MVZ HPH Institut für Pathologie und Hämatopathologie GmbH, which has been established at the site for many years. The laboratory group specialises in comprehensive diagnostics of solid tumours and haematological neoplasms and offers the full spectrum of morphological tissue diagnostics, molecular pathology and gynaecological cytology services.

With this acquisition, IMAXXAM further expands its commitment to future-oriented corporate and research real estate assets. Life sciences locations benefit from growing demand for specialised laboratory, diagnostics and office space, as well as from the long-term commitment of their occupiers.

Norton Rose Fulbright provided IMAXXAM with comprehensive legal and tax advice throughout the transaction.

Lead partner Dr. Maren Stölting (real estate, Munich) commented: "This acquisition of an established life science property in Hamburg demonstrates the continued attractiveness of specialised research and healthcare real estate for institutional investors. We are pleased to have advised IMAXXAM on this strategic addition to the GSAI fund portfolio."

The Norton Rose Fulbright team was led by partner Dr. Maren Stölting alongside counsel Dr. Riccardo Marinello (real estate, Frankfurt). Other core team members included partner Dr. Simon Weppner (tax, Düsseldorf), senior associate Sarah Heufelder (tax, Munich), associates Dr. Anna Katharina Lintz (public commercial law, Frankfurt) and Alexander Spalteholz (real estate, Munich).

Technical due diligence was carried out by WS Real Estate.