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01.02.2019

GSK Stockmann advises AXA on the acquisition of Techno Campus Berlin

GSK Stockmann advised Axa Investment Managers – Real Assets on the acquisition of the office building "Techno Campus Berlin" in Berlin's Siemensstadt from Caleus Capital Investors. The parties agreed to keep the purchase price confidential.

AXA Investment Managers acquired the office building on behalf of a joint venture of one of its funds and a foreign insurance company. Caleus remains a minority shareholder and will support AXA IM – Real Assets Team in asset management and the development of additional office space. The seller had acquired the "Techno Campus Berlin" loft building of around 48,000 sqm of rentable space in 2013 and repositioned it on the Berlin office real estate market. The property also offers potential for the development of another two new office buildings of around 20,000 sqm of rentable space. The building permit has already been granted. Construction work for the new building is to be completed by the end of 2020.

GSK Stockmann comprehensively advised AXA on the tax-related and legal transaction structure, on implementing a Luxembourg acquisition structure including Luxembourg investment law as well as in the context of financing. Beyond that, GSK Stockmann advised the purchaser on the joint venture agreement with Caleus, on the real property sales and purchase agreement with the seller and on advisory services agreements and carried out the legal and tax due diligence.

Advisers of AXA Investment Managers – Real Assets:

GSK Stockmann: Dr. Michael Stobbe (Corporate) and Thomas Grund (Real Estate) (both lead), Dr. Philipp Mössner (Corporate, GSK Luxembourg), Arne Bolch (Investment, GSK Luxembourg), Dr. Oda Wedemeyer (Projects & Public Sector), Dr. Philip Huperz (Real Estate), Stefan Koser (Finance), Dr. Dirk Koch (Tax), Mathilde Ostertag (Tax, GSK Luxembourg), Dominik Berka (Tax); Associates: Kristina Marx (Project & Public Sector); Associates: Kristina Marx (Projects & Public Sector).