Comment: This firm, which is recommended in real estate, stood out for transactions in the nursing home sector. P+P advised Deutsche Wohnen, a new client last year that now regularly hires the firm, on acquiring the Pegasus portfolio for hundreds of millions of euros. This shows how P+P is able to cement its client connections and also demonstrates effective cooperation with the tax lawyers, as Deutsche Wohnen has long been a tax client. Cooperation with the Munich M&A practice is also strong. This is all the more important, as the only Munich real estate partner, Dr. Wolfram Pätzold, left the firm for Pinsent Masons. The practice is active in project development for clients like Hines and gained new clients here, e.g. Quantum. Despite the loss of Pätzold, the team is firmly established in the market with three partners, but relatively small compared to competitors like CMS and A&O. To secure long-term visibility, additional partners would be a good idea. A new salary partner appointment was thus a step in the right direction.
Strengths: Transactions.
Recommended: Dr. Stefan Lebek (“very competent and collegial”, “target-oriented”, “professional and pragmatic”, competitors), Dr. Carsten Führling, Dr. Matthias Durst, Raphael Söhlke (“smooth and pleasant cooperation”, client; “competent and target-oriented”, competitor).
Practice: Focus on transactions. Also finance (borrowers), asset management and project development. (4 equity partners, 1 salary partner, 5 counsel, 7 associates)
Clients: ?? Deutsche Wohnen on acquisition of Pegasus portfolio; Quantum Immobilien on acquisition of residential portfolio; Hines and pension fund on project development; CA Immo on sale of project development Cube Berlin; ongoing advice to Aviva Investors.
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