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27.03.2015

GSK advises Land Berlin on the Transfer of Business Operations from Liegenschaftsfonds to BIM Berliner Immobilienmanagement GmbH

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The property subsidiaries of the Land Berlin (Federal State of Berlin), Liegenschaftsfonds Berlin GmbH & Co. KG and Liegenschaftsfonds Berlin Projektgesellschaft mbH & Co. KG have transferred their business operations to BIM Berliner Immobilienmanagement GmbH, a further property subsidiary of Land Berlin. With this transaction Land Berlin has bundled its property management.

GSK Stockmann + Kollegen advised Liegenschaftsfonds Berlin GmbH & Co. KG who played a major role in preparing and structuring the transaction on behalf of the Land Berlin (Senate Department of Finance).

The Liegendschaftsfonds’ companies hold trust properties for the Land Berlin, but also were in charge of the administration and management, the qualification and preparation of land for development purposes as well as the marketing of the trust properties. The Liegenschaftsfonds companies employed 113 employees, most of whom have now been moved to BIM. BIM is acting as the central property management company of the Land Berlin and now performs the tasks previously taken care of by the Liegendschaftsfonds’ companies. In its capacity as general manager BIM continues to administrate and manage the annually extended real estate special fund allocated through the SILB-Errichtungsgesetz (law governing public special assets) of Land Berlin as well as the Landesbetrieb für Gebäudebewirtschaftung Berlin.

By merging the current employees of the Liegenschaftsfonds and BIM, Land Berlin has created a competent team of currently 361 employees to efficiently promote the administration, management, qualification, optimisation and lease as well as the marketing of the currently approx. 4,500 state-owned properties BIM is responsible for. The Liegenschaftsfonds’ companies continue to act as portfolio manager of the trust properties of Land Berlin.

With the - partially completed - appointment of identical Management Board positions at BIM and Liegenschaftsfonds Berlin Verwaltungsgesellschaft mbH a close integration of the property subsidiaries is further fostered.

The transaction was carried out by a notarial deed under consideration of corporate and tax standards. As of 01 March 2015 Liegenschaftsfondsgesellschaften transferred to BIM its operational business including all contractual relationships connected therewith, such as agency agreements, service agreements or IT agreements. Since BIM has taken over the obligations of the Liegenschaftsfondsgesellschaften on the one hand and on the other hand liquidity in order to settle these ob-ligations, the total purchase price amounted to Euro 0,00.

GSK Stockmann + Kollegen focused on the corporate and real estate structuring of the transactions as well as the drafting of agreements including its coordination with the competent authorities of Land Berlin (Senate Department of Finance) and the representatives of BIM. Within the transfer of the contractual relationships data protection issues had to be considered and solved. Currently GSK Stockmann + Kollegen advises on the completion of the transaction, i.e. on the adjustment of the corporate agreements and the bylaws for the management board of the afore-mentioned companies.


Adviser Liegenschaftsfonds Berlin GmbH & Co. KG:
GSK STOCKMANN + KOLLEGEN, Berlin:
Dr. Christian R. Schmidt (Lead, Corporate), Dr. Jörg Kahler (IT/IP, Data Protection), Jennifer Bierly, LL.M. (Corporate), Wolfgang Jegodka, LL.M. (Real Estate); Associates: Jana Schlimgen (Corporate), Florian Kossmann (Corporate), Johannes Müller, LL.M. (IT/IP, Data Protection)

The deal news is available as download.

Contact at GSK Stockmann + Kollegen:
Dr. Christian R. Schmidt