GSK Stockmann provided comprehensive legal advice to property developers Uwe Binnberg and Bernd Sacher as well as to their project company regarding the sale of the office building “Streitfeldlofts” in Munich. In an off-market-transaction, the property was sold to the Eurozone Core Property Fund of the US-based investment house Blackrock. The parties have agreed not to disclose the purchase price.
The property is a is a former production and administration site on Streitfeldstraße 17-19 located in the up-and-coming district Berg am Laim in the east of Munich. The building, which was built in 1976, was extensively renovated, revitalised and expanded. It boasts a total of 8,360 m² office space, over 60% of which is already rented.
With a team led by Real Estate Partner Stefan J. Schlapka, GSK Stockmann comprehensively advised the sellers Binnberg und Sacher Real Estate on the transaction, particularly in the context of purchase contract negotiations, but also with regard to tax law, public law, neighbouring law and tenancy law issues.
Advisers of Binnberg und Sacher Real Estate:
GSK Stockmann: Stefan J. Schlapka (lead, Real Estate), Dr. Dirk Koch (Tax), Kerstin von Staa (Public Building Law), Associates: Dr. Mechtild-Maria Siebke, Maximiliane Bartsch (both Real Estate)