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GSK advises Fay Projects GmbH on the sale of the project development European Plaza in Stuttgart to Real I.S.

GSK Stockmann + Kollegen advised Fay Projects GmbH on the sale of its project development European Plaza (located at Stockholmer Platz 1 in Stuttgart's new European Quarter) to Real I.S.

With a size of 4,150 sqm the project development shall be completed in the first quarter of 2017. The mixed-used property offers a rental area of 17,300 sqm for office, retail and restaurant spaces. Renting more than 10,500 sqm the pharmaceutical group Celesio is the main tenant of the European Plaza. Presently more than 80% are already rented.

GSK comprehensively advised the seller in this transaction, in particular supporting the Forward-Deal-Structure, tax structuring and the preparation of the constructional contract.

Advisor to Fay Projects GmbH:
GSK Stockmann + Kollegen: Dr. Olaf Schmechel (Lead, Real Estate), Jennifer Bierly, LL.M (Corporate), Dr. Oda Wedemeyer (Real Estate and Construction), Dominik Berka (Tax).

The deal news is available as download.

Contact at GSK Stockmann + Kollegen:
Dr. Olaf Schmechel