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GSK Stockmann advises Union Investment Austria on the purchase of “Global Gate III” in Düsseldorf

Union Investment Real Estate Austria AG, the Austrian sister company of Hamburg-based Union Investment Real Estate GmbH, acquired the office building "Global Gate III" at Grafenberger Allee 297 in the east of Düsseldorf from a subsidiary of VERIANOS AG. A team led by GSK Stockmann partner Dr. Michael Jani which advised comprehensively on all real estate and investment law related issues.

The property, built in 2005, is fully rented. It has 10 floors with a total office space of 11,100 sqm and an underground car park with 143 parking spaces. The property will be transferred into the portfolio of the Austrian real estate fund “immofonds 1” which focuses primarily on private investors.

The acquired building is the most exposed part of the Global Gate office complex, developed by IVG Immobilien AG. The major tenants in “Global Gate III“ include the marketing service provider “Teleffekt”, the consulting Company “Ecovis”, the fitness center “Fit One”, and the manufacturer of health and hygiene products “Mölnlycke Health Care”.

As usual, GSK’s advice included a real estate due diligence, drafting and negotiation of the purchase contract with all accompanying agreements as well as all investment law related topics of the transaction.

Advisor Union Investment:

GSK Stockmann: Dr. Michael Jani (Lead, Real Estate); Associates:
Dr. Christoph Strelczyk, Christina Reiber (both Real Estate), Dr. Jan Bernd Seeger (Projects & Public Sector)

Contact at GSK Stockmann:
Dr. Michael Jani