GSK Stockmann advises French BlueIMvest on acquisition of Dortmund commercial property

GSK Stockmann has provided comprehensive legal advice to Paris-based BlueIMvest on the acquisition of a property from Hamborner REIT AG, Duisburg, as well as on the financing of the acquisition. The commercially used property with around 9,200 m² of rental space is located in Ostenhellweg, the main shopping street in the heart of Dortmund’s city centre.

The acquisition fits into the strategy of the Blue One fund launched by BlueIMvest, which focuses on the acquisition and development of properties in the city centres of Germany’s top 10 cities with an investment volume of 10 to 40 million euros. It was agreed not to disclose the purchase price. The acquisition of the property in Dortmund is Blue One’s second acquisition in Germany, following the purchase of a property in Hanover in April this year. The acquisition was financed by Deutsche Hypo / NordLB.

A team from GSK Stockmann led by Frankfurt partner Johann Rumetsch (Real Estate Investments & Asset Management) advised BlueIMvest on the acquisition. The financing was advised by partner Stefan Koser (Finance). The advice included in particular legal due diligence, advice on the purchase agreement as well as on the financing of the acquisition. The mandate derives from the long-standing contact between Johann Rumetsch and the French BlueIMvest. GSK Stockmann maintains regular contacts with French companies and law firms through its international French Desk, of which Rumetsch is a member, and has excellent networks in France.

Advisers of BlueIMvest:

GSK Stockmann: Legal advice: Johann Rumetsch (lead, Real Estate Investments & Asset Management), Stefan Koser, Rebecca Comtesse (both Finance); Associates: Duc Hieu Le, Simon Rieger (both Real Estate Investments & Asset Management), Kristina Marx, Pascal Thaler (both Public Law/Projects)

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