GSK Stockmann provided FOM Invest GmbH, an investment manager for German special funds focusing on real estate and infrastructure/renewable energy assets, with comprehensive advice on the structuring and launch of a German “co-ownership fund”.
Using the co-ownership fund, which was set up in the form of an open-ended domestic special AIF with fixed investment conditions in accordance with Section 284 of the German Investment Code (KAGB), the institutional investor was able to transfer two directly held and two indirectly held properties, all located in Germany, from its own portfolio to the regulated management of FOM Invest GmbH as part of an individual mandate.
The transferred portfolio comprises three fully let core properties and one value-add property, with a total volume in the three-digit million range. Asset management of the properties was outsourced back to the investor, who also continues to provide property management services.
A ten-strong team from GSK Stockmann led by partner and investment law expert Robert Kramer provided comprehensive advice on the launch of the fund, the due diligence and the transaction in the areas of investment law, tax law, real estate transactions and real estate asset management, as well as public construction law and corporate law.
Advisers of FOM Invest GmbH at GSK Stockmann:
Robert Kramer (lead, Partner, Investments), Stephan Wachsmuth, LL.M. (Local Partner, Tax), Jasmin Lena Seiberlich (Counsel, Real Estate Asset Management, Real Estate Transactions & Investments), Dr Marcel Vietor (Corporate), Theresa Jakob, Maître en droit (Counsel, Public Construction); Associates: Dr Martin Freytag (Investments), Andrea Nowak (Corporate), Florian Pletschacher, Anna-Lena Diedrich, Melanie Patrizia Seitz (all Real Estate Asset Management; Real Estate Transactions & Investments)