GvW Graf von Westphalen advises HCI Capital AG on the Transfer of the Management of 23 Real Estate Funds to Bilfinger Real Estate
In order to focus on the asset class “ship”, HCI Capital AG transferred to Bilfinger Real Estate by 1 October 2013 the fund and real estate management of 23 closed-end real estate funds with 43 office and logistic objects in the Netherlands, Austria and Switzerland. HCI Group, which was advised on the transaction by GvW Graf von Westphalen, will in the future supervise and represent the 9,000 investors as a trustee only.
With 523 issues and an investment volume of over 15 billion Euro, HCI group is one of the major issuing houses for closed-end participations in Germany. With more than 25 years of market experience, the Hamburg-based company is among the biggest national providers for closed-end shipping funds in terms of equity placed.
With the taking-over of the management of HCI Capital AG’s 23 real estate funds, Bilfinger Real Estate has further expanded its specialisation in real estate fund management. The company has by now therefore taken over approximately 130 investment companies with around 60,000 investors, including amongst others the management of the funds of Falk Group (Munich), Wert-Konzept (Berlin) and WestFonds Immobilien Anlagegesellschaft (Düsseldorf).
Hamburg-based corporate partners Dr Dominik Ziegenhahn and Christian Mayer-Gießen have been advising HCI group for many years on corporate law issues and also on this transaction. They were supported by partners Arnd Böken (Berlin, IT), Dr Malte Evers (Hamburg, employment law), Dr Horst Gieseke (Hamburg, corporate law) as well as associates Dr Christian Triebe (Hamburg, IT) and Jan. B Hermann (Hamburg, corporate law).
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