Cross-border legal support of a Belgian REIT on the acquisition of a German nursing home portfolio owned by Luxembourg-based property companies

Published 25 March 2019 by DSC LEGAL Rechtsanwaltsgesellschaft mbH

“Due to the very efficient cross-border collaboration, the complex due diligence review processes could be completed to a very tight schedule. The transactions have been successfully closed and Aedifica was able to significantly expand its nursing home portfolio in Germany.”

Aedifica NV/SA, a public real estate company („REIT“) under Belgian law, has repeatedly mandated German law firm DSC LEGAL (IR Global Gold Member) to obtain comprehensive legal assistance with regard to the acquisition of Luxembourg-based target companies owning several nursing home properties in Germany. The nursing homes („Pflegeheime“) are located in the Federal States of Berlin, Bavaria and Saxony-Anhalt and have a total capacity of about 800 residents. The total value of the properties was approximately EUR 70 Million.

Aedifica NV/SA was advised by DSC LEGAL during the entire transactions. The legal work mainly comprised the following services:

• Legal due diligence review of the target companies with a special focus on nursing home properties.

• Preparation and negotiation of share purchase and transfer agreements (share deals),

• Pre-presentation of the client during the closing of the transactions in Luxembourg

• Preparation and negotiation of new lease agreements with nursing home operators.

Based on a referral by DSC LEGAL, the corporate due diligence review of the target companies (S.à r.l.) was carried out by Luxembourg-based law firm duvieusart ebel, avocats associés.

Due to the very efficient cross-border collaboration, the complex due diligence review processes could be completed to a very tight schedule. The transactions have been successfully closed and Aedifica was able to significantly expand its nursing home portfolio in Germany.