The law firm assisted Hamburg-based Sonar Real Estate GmbH in acquiring a mixed-use building complex in Stuttgart-Vaihingen.
Sonar Real Estate is acquiring the property in Stuttgart-Vaihingen as the asset manager of Institutional Investment-Partners GmbH, which is in turn acting as the asset management company of the Stuttgarter Versicherungsgruppe’s “SIS Stuttgarter Immobilienspezialfonds”. The seller is a special purpose vehicle of Weisenburger Projekt GmbH from Rastatt. The property is fully let on a long-term basis.
Sonar Real Estate had acquired the property as a development project by way of a forward deal. The change of ownership has now taken place. The two structures on the site comprise around 12,000 square metres of lettable space, of which around 4,000 square metres is office space rented by the audit and tax consultancy firm HWS. The long-term tenant of the hotel section is Novum Hospitality, which operates a 198-room hotel under the name “the niu Kettle”. The underground car park has parking spaces for 85 cars. The parties have agreed not to disclose the purchase price.
A GSK Stockmann team led by Munich partner Stefan J. Schlapka provided Sonar Real Estate comprehensive legal and tax advice on the transaction, in particular with regard to the due diligence and the purchase agreement.
Advisers of Sonar Real Estate:
GSK Stockmann: Stefan J. Schlapka (Lead, Real Estate Investments & Asset
Management), Dr. Dirk Koch (Tax), Dr. Mechtild-Maria Siebke (Real Estate Investments & Asset Management), Kerstin von Staa (Projects and Public Sector) and Stephan Wachsmuth (Tax)