16 March 2022

GSK Stockmann advises DFI and Cells on acquisition of Sheraton Berlin Grand Hotel Esplanade

GSK Stockmann provided comprehensive legal advice to the Deutsche Finance Group subsidiary Deutsche Finance International and Cells Property Investors GmbH on the acquisition of the Sheraton Berlin Grand Hotel Esplanade in Berlin’s central Mitte district.

With a total of 394 rooms, the five-star hotel is located in the city centre near the embassy quarter opposite the famous Bauhaus Archive Museum and is only a stone’s throw away from Kurfürstendamm, Tiergarten and many of Berlin’s other main attractions. Deutsche Finance International and the Cells Group are planning to implement a new usage concept for the hotel. This concept includes the use of smart technologies and a range of ESG measures designed to increase the value of the property in the long term. The sellers are Archer Hotel Capital and Event Hotels. The financing for the acquisition is being provided by Berliner Sparkasse. The purchase price is 116 million euros.

Deutsche Finance International is a pan-European private equity real estate manager and manages around 3.1 billion euros in assets for sovereign wealth and pension funds, insurance companies, financial institutions and family offices. The Cells Group is one of the leading real estate development, asset management and investment companies in Germany with around 100 employees based in Berlin, Munich, Frankfurt, Hamburg, Düsseldorf and Luxembourg.

GSK Stockmann provided Deutsche Finance International and the Cells Group comprehensive advice on the acquisition with a team led by Munich-based partner Bernhard Laas. Our advice related in particular to corporate M&A, financing, hotel contracts, employment law and antitrust law and required close collaboration between our teams based in Germany and Luxembourg.

Advisers of German Finance International and Cells Property Investors GmbH:

GSK Stockmann: Bernhard Laas (lead, Real Estate Transactions & Investments), Alma Franke (Finance), Philipp Mössner (Corporate), Dr Philipp Kuhn (Employment), Daniela Eschenlohr (Financial Regulation), Mechtild-Maria Siebke (Finance), Wolfgang Jegodka (Competition & Antitrust); associates: Philipp Dawirs (Real Estate Transactions & Investments), Felix Schill (Tax), Chara Papagiannidi (Corporate), Anna Lindner (Corporate), Andrea Carraretto (Corporate), Björn Christ (Employment), Yannick Stahl (Corporate), Julius Groth (Finance), Maria Gusinski (Corporate), Nicolas Neuwinger (Real Estate Transactions & Investments)

Picture source: DFI

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Dr. Bernhard Laas

Partner*

+49 89 288174-43

bernhard.laas@gsk.de

* Partner: a partner within the meaning of the German Partnership Companies Act.
   Local Partner: not a partner within the meaning of the German Partnership Companies Act.
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