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27.06.2016

GSK Stockmann + Kollegen advises Union Investment on an acquisition in the Herrengraben in Hamburg

Led by Dr. Michael Jani, a team of GSK Stockmann + Kollegen comprehensively advised e Union Investment Real Estate GmbH in Real Estate and Investment law on the acquisition of a  mixed use office and retail building "Herrengraben 30-31" for its institutional real estate fund "UniInstitutional German Real Estate". The premises are located between the "Hamburg City Center" and the "HafenCity". The seller is the Cogiton Projekt Neustadt GmbH, an owner-managed Hamburg project development and investor company. The parties agreed to keep the purchase price confidential.

The property, which was built in 1993 in the immediate vicinity of the water, was renovated by Cogiton in the middle of 2016. It consists of an eight-storey tower and a five-storey bolt. The 6,520 sqm rental area is almost fully rented, for example to Global Navigation Solutions and the tax consultancy company T2C.
      
In addition to the usual due diligence the drafting and negotiation of the purchase agreement and all accompanying agreements, GSK Stockmann + Kollegen again also advised on the investment law aspects of the transaction.

Once again, Union Investment relied on GSK Stockmann + Kollegen's tried and tested "one-stop-shop" consultation.


Advisor Union Investment:
GSK Stockmann + Kollegen: Dr. Michael Jani (Lead, Real Estate), Dr. Christoph Strelczyk, Frederick Brüning (both Real Estate), Dr. Jan Bernd Seeger (Projects & Public Sector)

Contact at GSK Stockmann + Kollegen:
Dr. Michael Jani