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02.12.2014

GSK advises HANSAINVEST on the acquisition of the „Dancing Towers“ in Hamburg

STRABAG Real Estate GmbH, one of the leading project developers in Germany and Europe and part of the Austrian STRABAG SE, realised the „Dancing Towers“ in Hamburg. The construction of the fancy skyscrapers in Hamburg’s famous Kiez-district with a total lease space of approx. 35.000 sqm and a height of up to 90 m was completed in 2013. HANSAINVEST GmbH acquired a majority stake in the project company from Strabag Real Estate GmbH. HANSAINVEST is an investment company seated in Hamburg and a subsidiary of insurance group Signal Iduna. The purchase price amounts to approx. 165 million Euro.

In 2014, the Dancing Towers were awarded three of the most prominent real estate awards (FIABCI Prix d' Excellence Germany 2014, MIPIM Award for Best Office & Business Building 2014 and the immobilienmanager.AWARD 2014 for the best new project development). Mainly used as an office building it is also the home of Ham-burg’s highest restaurant Clouds on the 23rd and 24th floor, while the legendary Mojo Club resides in the basement.

GSK Stockmann + Kollegen has advised HANSAINVEST on the legal due diligence, the corporate and tax structuring of the transaction as well as the conclusion of the share purchase agreement.


Advisor to HANSAINVEST:

GSK Stockmann + Kollegen:
Lead: Dr. Rainer Stockmann (Project Coordination, Structuring, Real Estate Berlin), Dr. Michael Jani (Real Estate and Investment Law, Hamburg) and Dr. Michael Stobbe (Corporate, Berlin), Dr. Dirk Koch (Tax, Stuttgart), Dr. Thilo Franke (Real Estate, Hamburg), Dr. Henrik Kirchhoff (Public Law / Real Estate, Hamburg); Associates: Anneke Focken and Frederick Brüning (both Real Estate, Hamburg), Florian Kossmann (Corporate, Berlin) and Dr. Sebastian Heß (Tax, Stuttgart).

The full text of the deal news can be downloaded here.

Contact GSK Stockmann + Kollegen:
Dr. Rainer Stockmann
Dr. Michael Jani