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20.06.2018

GSK Stockmann advises GIEAG on the sale of an office complex in Stuttgart

Within the scope of a share deal, GSK Stockmann has advised GIEAG Immobilien AG (GIEAG) on the sale of a fully let office complex in Stuttgart to an institutional investor from southern Germany. Silence has been agreed on the purchase price.

The property in Stuttgart's Neckartalstraße comprises a total rental area of around 5,000 sqm and an underground car park with 101 parking spaces. The property was taken over by GIEAG at the turn of 2017/2018 as vacant and then comprehensively renovated. A long-term lease agreement for the entire rental area was recently concluded with the state of Baden-Württemberg. Following the completion of the revitalization measures as planned, the building was handed over to the exclusive tenant as of 1 June 2018.

GSK Stockmann provided GIEAG with comprehensive legal advice both on the purchase of the office complex at the end of 2017 as well as the signing and processing of the lease agreement. Now GIEAG also relied on the transaction competence of GSK Stockmann for the sale of the property.

About GIEAG Immobilien AG (GIEAG):
GIEAG is a family-owned Munich real estate stock corporation. The stocks of GIEAG Immobilien AG are traded on the Munich Stock Exchange. Over the past 18 years, GIEAG Immobilien AG has been involved in a large number of real estate projects, with areas ranging from 1,500 sqm to 145,000 sqm and individual investments of up to 100 million euros.

Advisor GIEAG Immobilien AG:

GSK STOCKMANN: Dr. Thomas Haller (Lead, Real Estate), Monique Franke (Real Estate), Dr. Alma Franke (Finance), Andreas Dimmling (Corporate); Associates: Katharina Treichel (Real Estate), Leonie-Isabelle Raymann von Loefen (Corporate)