BERLIN – 5 June 2024 –Greenberg Traurig advised HanseMerkur Grundvermögen AG on the structuring of a real estate fund and on the acquisition of a property of around 3,200 square meters from insolvency in Cologne city center. The parties have agreed not to disclose the purchase price.
An office, hotel and commercial building complex is to be built on the property in Cologne's city center. The total rentable space amounts to approximately 15,500 square meters.
HanseMerkur Grundvermögen AG bundles all real estate activities of the HanseMerkur Insurance Group. It is responsible for the management of real estate assets and establishes special real estate funds, financing funds and other investment vehicles for this purpose. HanseMerkur Grundvermögen AG is currently responsible for real estate assets of approximately EUR 6.3 billion.
Greenberg Traurig advised HanseMerkur Grundvermögen AG on the legal and tax aspects of this matter, including the purchase fund structuring, the purchase itself, negotiations with both the City of Cologne and the tenants, and insolvency law.
Background:
Greenberg Traurig's real estate team regularly advises HanseMerkur Grundvermögen AG on transactions and joint venture structures.
The firm’s Private Funds Practice regularly advises HanseMerkur Grundvermögen AG on the establishment of financing funds, real estate funds, funds of funds, and target fund investments, as well as on general regulatory and supervisory matters.