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21.05.2019

GSK advises Roland Ernst Grundstücks-Fonds 8 on the sale of an office complex in Heidelberg's Bahnstadt

GSK Stockmann advised the property fund Roland Ernst Grundstücks-Fonds 8 GmbH & Co KG, Heidelberg, on the sale (asset deal) of a large office complex in Heidelberg to a Tristan Capital Partners fund company based in London. The investment sum amounts to around 55 million euros.

The property, built in 1991 and 1992, is located at Speyerer Str. 4 and 6 on the outskirts of Heidelberg's “Bahnstadt” district and consists of one main building with three connected blocks and an office tower that can be seen from quite a distance. The rentable area of approx. 24,000 m2 extends over five floors and the office tower. In addition, there will be spaces for research and development in three separate halls.

This transaction contained a legal peculiarity since of the anchor tenants had a right of first refusal for two of the three halls, which he did exercise intermittently. As a result, the technical infrastructure needed to be separated and the part of the property that pertained to the two halls had to be partitioned from the rest.

GSK Stockmann provided comprehensive legal advice on the sale of the property and, in particular, negotiated the purchase agreement. GSK Stockmann also advises Roland Ernst Grundstücks-Fonds 8 GmbH & Co KG on the required property partition.

Advisers of Roland Ernst Grundstücks-Fonds 8 GmbH & Co. KG:
GSK Stockmann: Dr. Uwe Jäger (lead, Real Estate), Dominik Berka (Tax); Associates: Dr. Andreas Grammling (Real Estate), Andreas Ebert (Tax), Dr. Christian Kullick (Projects)