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GSK advises Invesco Real Estate on the acquisition of a residential quarter located at Berlin Alexanderplatz

GSK Stockmann + Kollegen advised a fund of Invesco Real Estate on the acquisition of a Berlin residential quarter located at Alexanderplatz from Munich Grund, a subsidiary of Austrian UBM Development. The parties agreed not to disclose the purchase price.

Completed in October the residential and office building is situated on the Alex-Wedding-Strasse in Berlin-Mitte. The 12-storey-building offers 190 apartments on  approx. 14,000 sqm, office space on 1,600 sqm and retail space on 1,500 sqm at the ground and first floor. According to Munich Grund 80% of the rental area are already let. The average rent amounts to EUR 13.50 per sqm.

The purchaser of the property close to the Alexanderplatz is a special fund managed by Invesco Asset Management.

GSK Stockmann + Kollegen comprehensively advised Invesco on all aspects of real estate and tax law in this transaction. The legal support rendered included the execution of a due diligence as well as the drafting and negotiation of the respective agreements.

Advisor to Invesco:

GSK STOCKMANN + KOLLEGEN: Dr. Michael Eggersberger, Monique Franke (both Real Estate, both Lead), Dr. Mark Butt, Dr. Maximilian Schilling (both Projects & Public Sector), Dr. Petra Eckl (Tax); Associates: Julia Straßer (Real Estate), Dr. Nadine Wachendorf, Eva Linde, Christian Kullick (all Projects & Public Sector).

The deal news is available as download.

Contact at GSK Stockmann + Kollegen:
Dr. Michael Eggersberger
Monique Franke