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24.05.2017

GSK Stockmann advises on the sale of "StadtQuartier Schloßstraße" in Mülheim an der Ruhr

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GSK Stockmann has advised a joint venture consisting of Fortress Immobilien AG, GRS Beteiligungen GmbH and Competo Capital Partners GmbH on the sale of "StadtQuartier Schloßstraße" in Mülheim an der Ruhr to PATRIZIA Immobilien AG. The parties agreed to keep the purchase price confidential.

The project development “StadtQuartier Schloßstraße”, located on the former Kaufhof shopping mall grounds in Mülheim an der Ruhr, is awaiting completion by late 2018 / early 2019. The property has approximately 34,300 sqm of rental space, 83 per cent of which are already rented. The mix includes housing, office, retail, gym, hotel and a car park. The main tenants include the City of Mülheim, Alloheim Senior-Residences and hotel operator Tristar with a Holiday Inn Express hotel.

The realisation of the “StadtQuartier Schloßstraße” is the last important milestone in implementing the city development project "Ruhrbania", aimed at redesigning the city center of Mülheim.

GSK Stockmann has provided comprehensive real estate and tax advice to the joint venture on the sale of the new project development “StadtQuartier Schloßstraße”.

Advisors StadtQuartier Schloßstraße:
GSK Stockmann: Dr. Bernhard Laas (Lead, Real Estate), Dr. Dirk Koch (Tax); Associates: Andreas S. Grammling und Dr. Philipp Dawirs (both Real Estate), Christian Kullick (Public Sector).

Contact GSK Stockmann:

Dr. Bernhard Laas