Global law firm Norton Rose Fulbright has advised HanseMerkur Grundvermögen AG on its purchase of the fully let project development "Neo Büro am Ku'damm" from Hamburg real estate company Becken.
The building project is fully let for 15 years to the International Workplace Group (IWG). The construction of the building is scheduled to complete at the end of 2020. In the second half of 2021, the overall completion and handover to the user are planned.
HanseMerkur Grundvermögen AG handles all real estate activities of the HanseMerkur insurance group under one roof. It is responsible for the management of a significant, constantly growing real estate asset and, to this end, establishes special real estate funds, financing funds and other investment vehicles in which other institutional investors can participate in addition to the insurance companies of HanseMerkur.
The Norton Rose Fulbright team in Hamburg was led by partner Stefan Feuerriegel (real estate), with support from partners Tino Duttine (tax law) and Dr. Martin Krause (investment law). Further assistance was provided by counsel Dr. Martin Hoffmann and senior associate Dr. Karsten Alex, and associates Robert Mayer (all real estate law), Sarah Heufelder (tax law), Andreas Loeck (investment law).