GvW Graf von Westphalen advises on the Project Development of a Logistics and Production Property of SIEMENS AG
Verdion, a British company specialized in logistics properties, is currently developing a production and logistics property in Chemnitz for SIEMENS AG with a project volume of approximately EUR 30 million in the context of a long-term lease agreement. GvW Graf von Westphalen has accompanied Verdion in this project development.
On a site of approx. 8.5 hectare which Verdion purchased from the city of Chemnitz, a 35,000 m² building is constructed for the multinational technology group. At the new location, various smaller production sites from the region will be merged under one roof. Construction started in October 2013, completion is planned for the third quarter of 2014. The majority of the project financing will be taken over by Canadian pension fund HOOPP (Healthcare of Ontario Pension Plan).
Verdion is a real estate investment and project development company founded in 2010 which focusses on logistics properties in the EU. Verdion’s development pipeline includes over 1 million m² of logistics space in Europe with an investment value of approx. EUR 600 million. In addition to its headquarters in London, Verdion has offices in Dusseldorf and Vienna.
Dusseldorf-based GvW lawyer Dr Hans Felix Schäfer has comprehensively advised long-term client Verdion with regard to the contract design and in the negotiations of the lease agreement with SIEMENS AG, the purchase agreement with the city of Chemnitz and the general contractor agreement.
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