news | 01 February 2016 | Stelios Americanos & Co LLC

Stelios Americanos & Co LLC advised Immofinanz

The portfolio comprised of 36 logistics sites with approx. one million square metres of rental space in Germany (24 sites), Hungary (five sites) Romania (three sites), Poland (two sites) as well as in Slovakia and Russia (one site each). The portfolio also included in three projects still in progress with an additional rental space of approx. 65,000 square metres, on in Germany and two in Romania. The value of the portfolio amounted to approx. Euro 536 million in total.

Selling the logistics portfolio was an important step towards further simplification and optimisation of the portfolio structure of IMMOFINANZ and served to focus on the core competencies or retail and office space.

Amongst the involvement of several jurisdictions, Cypriot legal entities formed a crucial part of this transaction. The purpose was the sale of a Cypriot legal entity owned by another Cypriot legal entity to a third party, the prerequisites of which included the release of several pledges and mortgages that encumbered the former in order for the transfer of its shares to be properly and validly effected.

This transaction has not been the first to be completed by IMMOFINANZ with the assistance of Stelios Americanos & Co LLC.  The firm is a long standing legal partner of IMMOFINANZ in Cyprus on all its corporate, mergers and acquisitions matters.

Stelios Americanos & Co LLC team provided also support to IMMOFINANZ in the acquisition of the 100% of Adama Group which focuses on retail property investments in Eastern Europe.

Stelios Americanos was the Partner responsible for the project acting with lawyers Eleni Pophaides and Diamando Pitsillidou under the coordination of Luther, Berlin and in cooperation with partner law firms in Hungary, Poland, Romania, Russia, Slovakia.

The above project is indicative of the capabilities and clientele of the firm.

Contact:  Eleni Pophaides,;, Diamando Pitsillidou,; 12 Demostheni Severi Avenue, Office 601, 6th Floor, 1080 Nicosia, Cyprus, Tel: +357 22 465500.

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