Noerr, working alongside global counsel Mayer Brown, has advised IDI Gazeley on the USD 2.4 billion acquisition of its European division, Gazeley, by the Singaporean warehouse operator Global Logistic Properties. GLP acquired Gazeley from the portfolio of the Canadian real estate investor Brookfield Asset Management.
According to Noerr, "Gazeley, the European division of global logistics company IDI Gazeley, is a leading investor and developer of logistics warehouses and distribution parks with a 33 million square foot portfolio concentrated in Europe’s key logistics markets, namely the UK, Germany, France and the Netherlands."
Noerr advised IDI Gazeley on the legal aspects of the transaction in Germany and Hungary. The lead advisor from Noerr was Berlin-based Partner Astrid Frense, working with Budapest-based Partner Zoltan Nadasdy, and Berlin-based Associates Phil Patrick Beetz, Elfi Ludecke, and Hanna Pirlich.