GSK Stockmann has provided comprehensive legal advice to the investor and project developer Art-Invest Real Estate on the purchase of a commercial building in Leopoldstraße in Munich. The seller is MEAG, the asset manager of Munich Re and ERGO. Both parties agreed to keep the purchase price confidential.
Alongside the Parkstadt Center and the Rilano Hotel, the property at Leopoldstrasse 139-145 is Art-Invest’s third portfolio investment in the office submarket of Munich Schwabing. The property is centrally located with high visibility at the main northern “gateway” to the city centre and features good connectivity to the public transport system and the national road network.
Furthermore, it is characterised by a diversified structure of tenants and usage (office, retail and residential) with a rental area comprising a total of 7,564 m² and a two-storey underground car park with 136 parking spaces. Tenants include the Free State of Bavaria and the Technical University of Munich.
GSK Stockmann provided comprehensive legal advice to Art-Invest Real Estate on the transaction, in particular on the investment and tax law as well as on the funding of the transaction. Dirk Brückner, who has been advising the company for many years and most recently on the transaction regarding “Die Macherei” in Munich, was the lead partner.
Advisers of Art-Invest Real Estate:
GSK Stockmann: Dirk Brückner (lead, Real Estate), Andreas Eichler (Real Estate), Dennis Stenzel (Investment), Dirk Koch (Tax), Alma Franke (Finance), Kerstin von Staa (Public); Associates: Phyllis Simsch (Real Estate), Katharina Feierabend (both Real Estate), Stephan Wachsmuth (Tax).
Image source: Advisers of Art-Invest Real Estate:
