Mr. Penndorf’s recent experience includes representing:
- Medical Properties Trust, Inc. in its €1.635 billion joint venture agreement with Primonial Group pursuant to which a fund managed by Primonial Group acquired an 50% interest in an MPT portfolio of 71 post-acute hospitals throughout Germany (2018).
- Barings Real Estate Advisers on the acquisition of Karstadt Germany’s main logistics center for approximately €90 million (2017).
- CONREN Land on the acquisition of a Munich office property through an asset deal for the open-ended real estate special AIF “CONREN Land Büro Invest-Plus” (2017).
- GreenOak Real Estate on a €100 million loan to finance a real estate portfolio (acquisition as well as capital expenditures) in Germany (2017).
- Barings Real Estate Advisers on its joint venture consisting of an international fund and German management team on the sale of the Frankfurt office property Astropark to TLG Immobilien
- Castlelake on its acquisition of the Treveria property portfolio, which consists of commercial retail and residential space, from Commerzbank. The acquisition was carried out by a trustee structure through a combined asset deal and share deal, as well as an external financing through a loan provided by SEB AG. The purpose of the loan is also to finance certain investment expenses (2017).
- Castlelake, L.P. on its acquisition of the Gravity real estate portfolio from the financial investors Marcol and Marathon Asset Management. The transaction was structured as a combined share and loan acquisition (2017).
- KanAm Grund in its acquisition of Campus E in Munich from BlackRock (2017).
- Gramercy Property Europe plc, a Europe-focused real estate investment fund sponsored by Gramercy Property Trust (Gramercy), on the sale of 100% of the fund’s assets to a consortium of clients managed by AXA Investment Managers (2017).
Mr. Penndorf was admitted as a German lawyer (Rechtsanwalt) in 2000 and is a certified tax adviser (Steuerberater) since 2004. Prior to joining Goodwin in 2016, he was a partner at Ashurst LLP where he headed the tax department. Previously he practiced at Mayer Brown and Allen & Overy.