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GSK Stockmann + Kollegen advises joint venture from Bavarian Pension Fund, Hammer AG and GLL to acquire 70,000 sqm of office space in Munich

GSK Stockmann + Kollegen has advised a joint venture consisting of a fund of the Bavarian Pension Fund (BVK) and Hammer Real GmbH, a company of Hammer AG, on the purchase of premises at Hufelandstraße 4-8 and Knorrstraße 138 in Munich. Silence has been agreed on the purchase price. The share of the Bavarian Pension Fund manages the GLL Real Estate Partners GmbH in Munich.

The buildings currently rented to BMW AG with a total lettable space of 70,000 sqm and a land area of around 40,000 sqm are located close to the BMW Group Re-search and Innovation Center FIZ in the north of Munich. The revitalization of the buildings occur after the end of the lease In 2017, the development of building rights begins in coordination with the state capital Munich and in 2018, the marketing of the project will begin. For the future tenants, highly efficient and functional office and commercial space with the best infrastructure and public transport connections will be available to meet the requirements of different users, especially with regard to third-party usability, sustainability and flexibility.

The seller of the premises is the fund manager “Ideenkapital” from Düsseldorf. The transaction occurred as an asset deal. Financing is provided by “Landesbank Hessen-Thüringen Girozentrale”.

GSK Stockmann + Kollegen has thoroughly advised Hammer Real GmbH on the joint venture's corporate and tax structure and has provided legal advice to the joint venture in acquiring the property through the asset deal.

Advisor to Joint-Ventures of property purchase:

GSK STOCKMANN + KOLLEGEN: Dr. Maximilian Schilling (Lead, Real Estate); Associates: Kerstin Franke (Real Estate).

Advisor to Hammer Real GmbH:

GSK STOCKMANN + KOLLEGEN: Dr. Dirk Brückner (Real Estate), Dr. Dirk Koch (Tax), Wolfgang Jegodka (Antitrust); Associates: Dr. Marcel Vietor (Corporate, M&A).

The deal news is available as download.

Contact at GSK Stockmann + Kollegen:
Dr. Maximilian Schilling