Heidelberg and VGP’s Development of a HEI-TECH Industrial Park

DLA Piper advised Heidelberger Druckmaschinen on the deal.

Heidelberger Druckmaschinen AG (Heidelberg) announced the planned development of a modern HEI-TECH industrial park at its Wiesloch/Walldorf site. For this purpose, Heidelberg has been able to gain a strong partner in VGP, a European provider of high-quality industrial and commercial real estate.

In this context, the VGP Group has acquired a further 80,000 square meters of space from Heidelberg. A corresponding purchase agreement was signed by both companies. VGP had already acquired around 130,000 square meters of space a year ago. The first construction measures in the HEI-TECH industrial park are scheduled to take place in 2022.

The total areas of Heidelberg and VGP will be combined to form the integrated HEI-TECH industrial park with the aim of developing an innovative production, office, and technology quarter. Heidelberg and the production and research companies to be located in the future will thus be able to benefit from each other’s expertise and achieve sustainable synergies in various areas.

The project is a further milestone for Heidelberg as part of the planned site and structural optimization measures in Wiesloch/Walldorf. In total, the Wiesloch/Walldorf site covers an area of around 840,000 square meters. More than 200,000 square meters of this will be remarketed with VGP as part of the planned site and structure optimizations. Almost 5,000 employees currently work at the site. Heidelberg is achieving a purchase price in the mid double-digit million euro range. The transaction is scheduled to be completed in the 2022/23 financial year.

The DLA Piper team advising on this transaction was jointly led by partners Fabian Mühlen (Picture; Real Estate, Frankfurt) and Dr Benjamin Parameswaran (Corporate/M&A, Hamburg) and comprised of partner Dr Marie-Theres Rämer (Tax), senior associates Dr Philipp Reclam (both Frankfurt) and Moritz Mursa as well as associate Dr Leonard von Bargen (both Cologne, all Real Estate).

The in-house team at Heidelberg was led by Sascha Donat (Head of M&A) and also included Arthur Schneider (M&A) and Orhan Bekyigit (Head of Site Management).

Involved fees earner: Fabian Mühlen – DLA Piper; Moritz Mursa – DLA Piper; Benjamin Parameswaran – DLA Piper; Marie-Théres Rämer – DLA Piper; Philipp Reclam – DLA Piper; Leonard von Bargen – DLA Piper;

Law Firms: DLA Piper;

Clients: Heidelberger Druckmaschinen;