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30.12.2015

GSK advises Swiss Life on the acquisition of the hotel tower of Munich’s Bavaria Towers

Supported by GSK Stockmann + Kollegen insurance company Swiss Life acquired through its asset manager the hotel tower of the Bavaria Towers from property company Bogenhausener Tor. The property is located at Vogelwei-deplatz in Munich. The parties agreed not to disclose the transaction volume.

Swiss Life Asset Managers acquires the 54-metres-high „White Tower“, which forms part of an ensemble of multi-storey-buildings, in the development phase of the Bavaria Towers. According to Swiss Life this transaction is one of the largest hotel transactions of the company in Germany. The seller is Bogenhausener Tor Immobilien GmbH, a property company with the investor and majority shareholder Von der Heyden Group. Developer of the entire ensemble of multi-storey-buildings is the Munich based company Bayern Projekt.

Upon completion the “White Tower” is already leased for a fixed term of 20 years to the H-Hotels AG Group. A four star Ramada Hotel with 345 rooms, a 700 sqm conference floor as well as an extensive spa area will be constructed on 15 floors with an overall floor area of approx. 15,000 sqm. The opening is planned for 2018.

The total investment made by project developer Bogenhausener Tor for both White and Blue Tower is estimated to amount to EUR 160 million. Beside the two towers two further multi-storey office buildings are constructed at Munich’s Vogelweideplatz. The Bavaria Towers project with one hotel and three office towers comprises a total rental area of 62,000 sqm and has been designed by the Spanish star architects Fuensanto Nieto and Enrique Sobejano.

GSK Stockmann + Kollegen comprehensively advised Swiss Life Asset Managers on all aspects of real estate law. The legal support included the legal due diligence, negotiation of the purchase agreement as well as the support on partitioning the property and the adoption of the agreements referring to the property.


Advisor to Swiss Life Asset Managers:

GSK STOCKMANN + KOLLEGEN: Monique Franke (Lead, Real Estate), Dr. Maximilian Schilling (Real Estate), Stefan Schlapka (Hospitality, Real Estate); Associates: Kathrin Werner (Public Law, Projects & Public Sector), Julia Straßer, Natalie Sochan (both Real Estate)

The deal news is available as download.

Contact at GSK Stockmann + Kollegen:
Monique Franke