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19.10.2015

GSK advises Quantum and Blackstone on the acquisition of Office Property Loopsite in Munich

GSK Stockmann + Kollegen advised US-Investor Blackstone and Quantum Capital on the acquisition of the three office buildings of Loopsite located on the former Siemens-Campus at Munich’s Ostbahnhof.

Blackstone acquired Loopsite on behalf of its investment fund Blackstone Real Estate Partners Europe IV. For the first time, Blackstone won a foreign co-investor for a share-deal. The seller is an institutional fund of investors from France and the Middle East managed by asset manager Inovalis. The parties agreed not to disclose the purchase price.

Quantum Capital plans to focus on raising further foreign funds for investments in Germany. Constructed in 2004, Loopsite’s office buildings have a size of approxi-mately 40,000 sqm, 90% of which are currently let. One of the buildings with almost 19,000 sqm is let to the Finnish telecommunication company Nokia. Technology company Coriant has leased a further 11,000 sqm. At the beginning of September a company in the security technology sector signed a lease agreement for another 5,200 sqm.

GSK Stockmann + Kollegen comprehensively advised Blackstone and Quantum Capital on this transaction. The real estate and corporate law advice on the sales process included the due diligence phase as well as the drafting and negotiation of the share deal agreements. Jointly with London based law firm Simpson Thacher & Bartlett LLP, GSK also advised on the financing.

Advisor to Blackstone and Quantum Capital:
GSK STOCKMANN + KOLLEGEN: Andreas Dimmling, Dr. Andreas Bauer (both Corporate), Dr. Michael Eggersberger (Real Estate) (all Project Lead), Dr. Mark Butt (Public Sector), Dr. Alma Franke
(Finance), Dr. Maximilian Schilling, Monique Franke, Stefan Schlapka, Wolfgang Jegodka (all Real Estate), Dr. Petra Eckl (Tax); Associates: Eva Linde (Public Sector), Sebastian Dittrich (Corporate) and Alen Nalbandian (Tax)

The deal news is available as download.

Contact at GSK Stockmann + Kollegen:
Dr. Michael Eggersberger