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GSK advises Pembroke Real Estate in acquiring the Maximilianhöfe in Munich

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With GSK Stockmann + Kollegen in an advisory capacity, Pembroke Real Estate has acquired the Maximilianhöfe in Munich’s Maximilianstraße. Avestus Capital Partners was the seller.

The deal was structured as the acquisition of an owner company of the Maximilianhöfe. As advisors, Pembroke represented the buyers and CBRE advised Avestus Capital Partners in the purchase. The State Bank (Landesbank) of Hessen-Thüringen (Helaba) was the sole financer for the buyer. The parties agreed not to disclose the purchase price, but the transaction is considered to be the largest real estate deal this year in the Munich market. 

Located on Maximilianstrasse, Germany’s exclusive luxury retail street, the Maximilianhöfe comprise retail, restaurant and office space in two buildings – the 8,674 sqm Bürkleinbau, and the 11,573 sqm Maximilianhof. Due to Munich’s tight planning controls, the building is one of only a few modern office properties in the city centre offering large, efficient floor plates and high quality specifications. It is let to a total of 25 tenants, comprising many international companies and famous names in retail. 

For Pembroke, this is already the third Munich acquisition over the last 16 months. Previously, the company purchased the Altstadt Palais in July 2011 and the Lorenzistock in January 2011.

Legal Advisors to Pembroke Real Estate: 
GSK Stockmann + Kollegen: Dr. Dirk Brückner (Real Estate, lead; Munich) and Dr. Andreas F. Bauer (Corporate, lead; Munich), Stefan Koser (Finance, Frankfurt), Dr. Mark Butt (Public Law, Munich), Stefan Dorn (Construction, Munich), Dr. Dirk Koch (Tax, Stuttgart), Wolfgang Jegodka (Antitrust, Berlin);  Associates: Dr. Susanne Radlsbeck, Dr. Nadine Wachendorf and Simon Reinhard (all Real Estate, Munich) as well as Andreas Dimmling and Dr. Tilman Durchlaub, (both Corporate, Munich) and Dr. Alma Franke (Finance, Munich).

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