The Katz Group, one of Canada's largest privately owned enterprises, has inked a joint venture agreement with local investors for the development of The Dome, a €300 mln real estate project at Frankfurt Airport.
Financial details were not disclosed.
The project comprises the construction of a multifunctional sports and cultural arena, including a hotel and car park, planned to be one of the largest structures of its kind in Europe.
The Edmonton-headquartered Katz Group operates in the fields of sports and entertainment, real estate and public and private investment. It owns the Edmonton Oilers, one of the most successful ice hockey teams in the NHL, according to Katz, as well as Rogers Place, the Oilers’ modern home arena.
The Dome will be built in the immediate vicinity of Frankfurt Airport and will offer space for 23,000 spectators at music and sports events. The venture said it was in talks with Frankfurt’s Löwen ice hockey team and Skyliners basketball team to become their home venues. Katz Group plans to keep the property in its portfolio and operate it after completion.
A Dentons team, led jointly by Dr. Volker Junghanns and Dr. Rebekka Hye-Knudsen, advised Katz Group on the joint venture and related tax issues. Katz Group is a longstanding client of Dentons in Canada, but this is the first time the firm has advised the group on a transaction in Germany, the law firm said.