GSK Stockmann comprehensively advised the Mannheim-based project developer FAY Projects on the sale of the residential and business building at Dresdner Postplatz to Wealthcap, Real Asset and Investment Manager from Munich. The parties have agreed not to disclose the purchase price.
The building „with round corners“ designed by the architects TCHOBAN VOSS will count with a total leasable area of 18.200m2 and will been completed by Spring 2020. The premises count with area designated to gastronomy, retail and a fitness club on the ground and first floor. Amongst the tenants will be the fitness club Fit/One, REWE, as well as a Bio-Company shop, a drug store and a pharmacy. The remaining floors will count with 68 living units, in part with vast rooftop terraces offering a view over the Zwinger in Dresden.
The lower floors are home to the underground parking lot offering space for 143 vehicles.
GSK Stockmann has comprehensively advised on the sale carried out as a complex forward asset deal with a team, led by Dr. Olaf Schmechel.
GSK Stockmann advises FAY Projects on a regular basis. At present with the project „Spandauer Ufer“ (https://www.spandauer-ufer.de/) close to the ICE train station Berlin-Spandau.
advisors FAY Projects GmbH:
GSK Stockmann: Dr. Olaf Schmechel (lead, Real Estate), Dr. Dirk Koch (Tax); associates: Emily Arkhurst, Çağlayan Birkan (both Real Estate)
