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27.09.2017

GSK Stockmann advises Hammer AG on the sale of Schrannenhalle in Munich

Schrannenhalle by the Viktualienmarkt in Munich

In the course of a structured bidding process and in the form of a share deal, GSK Stockmann advised the Hammer Group on the sale of Schrannenhalle in Munich. Silence has been agreed on the purchase price.

The Schrannenhalle, located centrally by the traditional Viktualienmarkt, was built from 1851 to 1853, rebuilt in the year 2003 and reopened in 2005. During its bankruptcy in 2009 it was acquired by the Hammer Group. After rebuilding and rehabilitation, the Schrannenhalle reopened in 2011 as "Munich market hall" with food retailers and gastronomy. In November 2015, after further extensive refurbishment and reconstruction measures as well as a re-positioning, the Schrannenhalle became one more time an enrichment of the Viktualienmarkt square. Many bidders were interested in the purchase. Within the scope of the transaction, the buyer acquired the shares of three companies, whereat the Hammer Group as a minority shareholder still retains ownership and will continue to take over the property management.
 
Eataly, a globally active Italian consumer goods group from Turin, chose the Schrannenhalle for its first location in Germany to embody Italian joie de vivre with restaurants and a market hall. Other Eataly stores are located in New York and Tokyo, among others. Hacker-Pschorr and Bavaria Parkgaragen also belong to the tenants of the Schrannenhalle.

Dr. Dirk Brückner, who led the GSK team, says about the deal: “We are very happy that we were able to accompany the revitalisation of this 'Landmark' property in Munich legally for the Hammer Group: From purchase to sale.”


Advisors Hammer Group:

GSK Stockmann: Dr. Dirk Brückner (Lead / Real Estate), Andreas Dimmling (Corporate / M&A), Dr. Alma Franke (Finance), Dr. Dirk Koch (Tax Law), Dr. Mark Butt (Public Law), Dr. Susanne Radlsbeck (Real Estate); Associates: Phyllis Rade, Natalie Sochan (all Real Estate), Leonie Raymann von Loefen
(Corporate / M&A), Eva Linde (Public Law)

Broker JonesLangLaSalle:
Jörg Ritter, Markus Laermann, Sebastian Lerm

Tax Consultants:
psw GmbH Steuerberatungsgesellschaft Wirtschaftsprüfungsgesellschaft
Karl Schnitzler, Eva Baumgart, Martina Rockicki


Contact GSK Stockmann:
Dr. Dirk Brückner