Use of cookies by
Norton Rose Fulbright
We use cookies to deliver our online services. Details and instructions on how to disable those cookies are set out at nortonrosefulbright.com/cookies-policy. By continuing to use this website you agree to our use of our cookies unless you have disabled them.
Norton Rose Fulbright advises R+V Versicherung on the acquisition of the housing project Häuser im Park in Ostfildern | Global law firm | Norton Rose Fulbright

Norton Rose Fulbright advises R+V Versicherung on the acquisition of the housing project Häuser im Park in Ostfildern

August 29, 2018

Contacts

Related services

Global law firm Norton Rose Fulbright has advised R+V Versicherung, one of Germany's largest insurers, on the acquisition of the housing project “Häuser im Park” in Ostfildern. The acquisition is the first step in establishing a residential property portfolio in and around economically strong regions throughout Germany.

The focus is on the acquisition of turn-key new building projects and high-volume blocks and portfolios of existing flats. The company instructed with the property acquisition and current management of the portfolio is the GWG group, a company specialising in residential properties.

The housing project in Ostfildern will be built in construction phases, including a total of 145 residential units offered as rented flats, located at Scharnhauser Park between Ricarda-Huch- and Nelly-Sachs-Straße. The residential space to be constructed will comprise approximately 13,800 square meters in total, with an estimated 152 parking spaces in an underground garage. The first construction phase comprising 69 residential units has already started. The second construction phase is planned to include 76 residential units, with completion of the project expected in 2021/2022.

The acquisition of the project was carried out under a forward deal. The developing company and seller of the housing project "Häuser im Park" is HKPE Hofkammer Projektentwicklung GmbH.

The Norton Rose Fulbright team was led by Frankfurt partner Thomas Hopf and included of counsels Dr Felix Dinger and Bernd Schneider, senior associates Sven-Christoph Riepke and Dr Gabriele Bruchmann and associate Borislaus Baron (all corporate, real estate). Further assistance was provided by Tino Duttiné and associate Judith Kutter (both tax).

For further information please contact:

Stefanie Kerschke, PR & Communications Executive Germany
Tel: +49 89 212148 339; Mob: +49 174 34 528 72
stefanie.kerschke@nortonrosefulbright.com

Notes for editors:

Norton Rose Fulbright

Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.

Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.

Norton Rose Fulbright operates in accordance with its global business principles of quality, unity and integrity, aiming to provide the highest possible standard of legal service in each of its offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices. For more information, see nortonrosefulbright.com/legal-notices.