A Gleiss Lutz team has advised PATRIZIA, a leading partner for global investments in real assets, on the acquisition of the office and retail property Emmler Lofts in Berlin-Kreuzberg. The seller is the project development and investment company QUEST Investment Partners. The parties have agreed not to disclose the purchase price.
QUEST acquired the property at Kottbusser Damm 25-26 in May 2019. In the meantime, it has been fully refurbished and has received the BREEAM certification "very good". The space of around 6,000 square metres is newly let, among others to Aurora Energy Research and the tech start-up kollex. The now historic anchor tenant Woolworth has remained. The shop has been located on the ground floor of the building since 1928.
PATRIZIA, which operates worldwide, has been offering investments in real estate and infrastructure for institutional, semi-professional and private investors for 38 years. The company currently has more than 55 billion euros in assets under management and is represented by over 1000 employees in 27 locations worldwide.
The following Gleiss Lutz team acted for PATRIZIA in the transaction: Dr Johannes Niewerth (Partner, Hamburg), Dr Jonas Rybarz (Counsel, Berlin, both Lead), Lesley Milde (Hamburg, all Real Estate), Dr Johann Wagner (Partner), Dr Hendrik Marchal (Counsel) and Dr Philip Niemann (all Tax, Hamburg), Dr Lars Kindler, Lennart Förster (both Düsseldorf, Public Law).
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