Munich—Global law firm Dentons has advised x+bricks, an investment company specializing in food-anchored real estate, on the formation of the photovoltaic joint venture Aurinko. The partner in the joint venture is the Hopp family office. The construction and maintenance of the photovoltaic systems will be handled by Wircon, a global renewable energy company wholly owned by the Hopp family.

The joint venture plans to install approximately 45 PV systems on the roofs of food-anchored properties from the x+bricks portfolio by the end of 2022, which corresponds to a roof area of around 200,000 square meters. In the mid-term, x+bricks intends to equip all suitable roofs of its existing and future real estate portfolio with PV systems. Tenants will be able to obtain sustainably generated electricity directly from the supermarkets' roofs. With this project, the company is further implementing its ESG initiatives, which also include the creation of charging infrastructure for electric vehicles in the parking lots of its properties.

Founded in 2018, x+bricks invests in supermarkets, discounters and local shopping centers throughout Germany. The company currently has a portfolio of around 200 properties worth approximately € 1.1 billion (GAV; Gross Asset Value).

Wircon is a global renewable energy company that has focused on the development and construction of industrial-scale solar farms since entering the market in 2013. To date, the company has realized more than 700 MW of capacity.

A Dentons team from Munich and Düsseldorf fully advised x+bricks on the establishment of the joint venture.

Advisors to x+bricks

Dentons (Munich/Dusseldorf): René Dubois (Partner, Lead, Corporate/Real Estate, Munich), David Zafra Carollo (Partner, Dusseldorf), Jessica Vorster (Counsel, Munich, both Real Estate), Dominik Thomer (Partner, Steuerrecht, Düsseldorf), Sandra Weyrich (Counsel, Corporate), Léna Feldle von Schickfus und Neudorff (Transaction Lawyer, both München)

About Dentons

Across over 80 countries, Dentons helps you grow, protect, operate and finance your organization by providing uniquely global and deeply local legal solutions. Polycentric, purpose-driven and committed to inclusion, diversity, equity and sustainability, we focus on what matters most to you. www.dentons.com