Norton Rose Fulbright advises Unibail-Rodamco-Westfield on the sale of a majority stake in “Höfe am Brühl” in Leipzig

The global law firm Norton Rose Fulbright has advised Unibail-Rodamco-Westfield (URW) on the sale of an 89.9 per cent interest in the shopping centre Höfe am Brühl in Leipzig, Germany, to the Czech Investika Real Estate Fund. URW originally acquired the property in 2012.

URW will retain a 10.1 per cent interest in the property and will continue to provide centre and asset management services during a transitional period to ensure a smooth operational handover within the future joint venture structure. Financial details of the transaction were not disclosed. Completion is subject to customary conditions and is expected during the first half of 2026.

The transaction reflects URW's strategic repositioning in Germany. Following significant cost increases related to the Westfield Hamburg Überseequartier development, the group announced a more focused portfolio strategy and the divestment of selected assets.

Lead partner Dr. Stefan Feuerriegel (real estate, Hamburg) commented:

"This transaction underscores the continued attractiveness of prime inner-city retail assets to international capital, even in a challenging market environment. We are pleased to have supported URW in this strategically important step and to have contributed our extensive expertise in complex real estate and portfolio transactions."

The Norton Rose Fulbright team led by partners Dr Stefan Feuerriegel and Dr Maximilian Findeisen (corporate/M&A, Düsseldorf, joint lead), further included partners Veit Sahlfeld (banking, Hamburg) and Dr Tim Schaper (antitrust, Hamburg); counsel Sven Christoph Riepke (real estate, Hamburg), Dr Riccardo Marinello, LL.M. (Real Estate, Frankfurt) and Michael-Alexander Volks (Banking, Hamburg) ; senior associates Dr Veronika Maria Koch (corporate/M&A, Düsseldorf) and Tankred Freiberger (real estate, Munich); as well as associates Marvin Nimoh (Banking, Hamburg and Dr Tobias Teichner (antitrust, Hamburg).