GSK Stockmann advised a joint venture between neuplan GmbH, based in Grünwald near Munich, and Competo Capital Partners GmbH, based in Munich, on the partial letting of the new SUN office building in Munich’s Berg am Laim district. The tenant is the publishing group Penguin Random House, a wholly owned subsidiary of Bertelsmann.
A GSK Stockmann team led by Munich partner Stefan J. Schlapka advised Competo Capital Partners and neuplan on the letting by a. The team’s advice focused particularly on the conception of the ten-year lease agreement.
The New York-based Penguin Random House, the world’s largest book publisher, has let a total area of 12,000 sqm in the planned SUN project for a term of ten years starting in 2028. Following the conclusion of the lease, 50% of the property located at Levelingstrasse 10-18 is now pre-let. The five-storey flagship development meets the highest sustainability, health and digital infrastructure standards and has already been awarded the prestigious DGNB Platinum, WELL Gold and WiredScore Platinum certifications.
Advisers of neuplan GmbH and Competo Capital Partners GmbH at GSK Stockmann:
Stefan J. Schlapka, LL.M. (lead, Real Estate Asset Management), Dr Mechtild-Maria Siebke (Finance), Stephan Wachsmuth (Tax), Sebastian Gerhards (Tax)
Other advisers:
E&G Real Estate GmbH for neuplan GmbH and Competo Capital Partners GmbH
Cushman & Wakefield GmbH and SEQOR Huber Hamm & Partner Rechtsanwälte mbB for Penguin Random House
