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GSK Stockmann advises CA Immo on the acquisition of the Patrizia share in the NEO München

GSK Stockmann has advised a joint venture of CA Immo and Patrizia on the acquisition of a 50 per cent share of the German real estate investor Patrizia in project development company NEO by real estate company CA Immo. CA Immo is now the sole owner of the former joint venture NEO and invests 86 million Euro in the building complex, located in the Munich borough Berg am Laim.

The office, hotel and residential complex NEO with a total space of approximately 21,000 sqm is one of the last elements of the new Munich urban quarter Baumkirchen Mitte. With the construction starting in March 2017, completion is planned for the end of 2019. The ensemble consists of a plinth building with 55 apartments and a sixty metre high tower in which the hotel group tristar will operate a hotel of the brand Hampton by Hilton with 143 rooms on six floors. CA Immo will keep ownership of the hotel and office area as an independent building whilst selling the apartments.

The 131,000 sqm area Baumkirchen Mitte in the Munich borough of Berg am Laim will see a total of 525 apartments for approximately 1,200 inhabitants and the creation of 350 new workspaces. The first inhabitants already moved into the area in the summer of 2016.

GSK Stockmann has already given comprehensive legal advice on setting up the joint venture between CA Immo and Patrizia for the development of the Baumkirchen area. Now GSK Stockmann also advised on the tax structuring and the transmission of the NEO shares.

Advisor CA Immo und Patrizia:
GSK Stockmann: Dr. Dirk Brückner (Lead, Real Estate, Corporate), Dr. Dirk Koch (Tax), Dr. Marcel Vietor (Corporate)

Contact at GSK Stockmann:
Dr. Dirk Brückner