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29.01.2018

GSK Stockmann advises Primus developments and Senectus Capital on sale of the apartment building “Woodie” in Hamburg

SK Stockmann provided comprehensive legal advice to Primus developments and
Senectus Capital on the sale of the innovative, award-winning student housing complex “Woodie”. Buyer is CORESTATE Capital Holding S.A. who acquired the property for the real estate umbrella fund launched on behalf of the Bayrische Versorgungskammer on the Luxembourg-based AIF platform of Universal-Investment.

With an area of 7,700 m², “Woodie” is the worldwide largest building built using timber modules. It encompasses 371 fully furnished student apartments. Due to the innovative modular construction method, the construction period was significantly shorter than usual while maintaining a high production quality: The groundbreaking ceremony for the property – located in the Wilhemsburg district, Hamburg’s largest island in the Elbe – was in December of 2016. Already in October 2017 the first tenants moved in. The seven-storey building which was planned by Berlin architects Sauerbruch Hutton has received numerous awards.

Advisor Primus developments and Senectus Capital
GSK Stockmann: Dr. Philip Huperz (Lead, Real Estate), Dr. Alma Franke (Finance), Dr. Jan Hennig (Public Sector), Dominik Berka (Tax), Dr. Martin Hossenfelder (IP/IT)