International law firm Simmons & Simmons has advised London-based pan-European investment manager Vengrove on the acquisition of a prime last-mile logistics development opportunity in Munich. The transaction marks Vengrove’s first German acquisition for its VRE Evergreen Logistics Partners (VREELP) platform, representing a significant step in the expansion of its pan-European logistics portfolio.
Vengrove has acquired a brownfield site in Olching, a commercial suburb of Munich, from a private seller. The site, adjacent to the A8 motorway, will be developed into a state-of-the-art logistics unit spanning approximately 9,000 sq m (97,000 sq ft), with a gross development value of €30 million. The project is targeting DGNB Platinum certification, underscoring Vengrove’s commitment to ESG excellence and institutional-grade assets. This acquisition is the first in Germany for VREELP, Vengrove’s separate managed account for Danish pension fund PenSam, which is initially allocating €200 million in equity to invest in logistics and light industrial assets across key European markets.
Simmons & Simmons provided comprehensive legal advice to Vengrove on all legal and tax aspects of the transaction. The cross-border nature of the deal and the focus on ESG credentials required innovative legal solutions and deep sector expertise, reflecting the firm’s strength in advising on complex, high-value logistics and real estate transactions across Europe.
The Simmons team from Germany and Luxembourg was led by Marco Winterer, partner at Simmons in Munich, supported by Bernulph von Crailsheim (Partner, Frankfurt), Elmar Weinand (Managing Associate, Frankfurt) and Pia Wattendorff (Associate, Munich) as well as by Julie Carbiener (Partner, Luxembourg), Camille Benezet (Managing Associate, Luxembourg) and Nathalie Perrard (Associate, Luxembourg).
Marco commented: “This transaction demonstrates the increasing demand for high-quality, sustainable logistics assets in key European markets. Navigating the complexities of cross-border investment and ESG requirements, we were able to support Vengrove in securing a strategic foothold in Germany’s dynamic logistics sector.”
