Goodwin's German Real Estate team advised client Batipart Immobilier Europe on the sale of the majority part of Center Parcs Allgäu to TwentyTwo Real Estate.
Center Parcs Allgäu is one of the largest and newest Center Parcs in Europe and is leased to operator Pierre & Vacances on a long-term basis. The sale includes 750 of the 1,000 vacation homes as well as the park's central facility and main sports and leisure facilities such as water park, shopping and leisure facilities, cable car parks, artificial hills and lakes and children's entertainment. The remaining part of the park, comprising 250 vacation homes, is currently owned by a third party.
The parties involved have agreed not to disclose the terms of the transaction.
The transaction was led by Peter Junghänel, Catharina Förster (both Real Estate) and Heiko Penndorf (Tax).