The international corporate law firm (BCLP) advised AEW Nox GmbH & Co. Geschlossene Investmentkommanditgesellschaft on the acquisition of the innovative office space complex New Eastside Munich – Factory Loft through a forward deal. The seller was the Optima-Aegidius Group.
Optima had purchased the former industrial complex of Hawe Hydraulik Werke and developed the property in collaboration with its joint venture partner Competo Capital Partners. The architectural firm Oliv GmbH developed the design concept for the Factory Loft which utilises elements of industrial age architecture. Inspired by recent office developments in New York, the sawtooth roof form of the original buildings was reintroduced and combined with stylistic elements of the New York “cast iron buildings”. After the planned completion in Q4 2020, the object will provide ca. 21,000 sqm of modern office space with several large rooftop terraces, green courtyards and an underground parking garage with 223 parking spaces. 70% of the available space is already preleased. Long-term tenants will include Gruner + Jahr and adesso AG.
AEW is one of the world’s largest real estate investment managers currently holding 76 billion USD (68.2 billion EUR) in assets under management which are distributed in all asset classes throughout North America, Europe and in the Asia-Pacific. The company has 700 employees in 15 offices around the globe.
Gereon Kohlgrüber, Head of Investment at AEW, said, “We are very pleased to have secured this landmark development from one of Munich’s leading developers on behalf of our clients. Munich’s east comprises the city’s most sought-after submarket and, once completed, the asset perfectly matches our clients’ investment strategy. We gladly reached out again to Bryan Cave Leighton Paisner for this transaction who assisted us with a team that provided competent and comprehensive advice on every aspect of the transaction.”
“We are delighted to have the opportunity to assist AEW in this transaction,” commented Boris Strauch, the partner at BCLP who led on the transaction. “BCLP and AEW have worked together on several occasions in the UK. We see this instruction on such a complex transaction as a great success for our German offices.”
Frankfurt based partner Boris Strauch (real estate and public) was assisted in this transaction by BCLP partners Tina Siebenhaar (real estate) and Stephan Krampe (tax, both Frankfurt) as well as by senior associate Dominik Ernst (tax, Berlin) and the two associates Clarissa Faulstich and Gabriel Gregori (both real estate and public, Frankfurt).
Bryan Cave Leighton Paisner LLP
Boris Strauch – Partner (Transaction Lead, Real Estate and Public)
Tina Siebenhaar – Partner (Real Estate)
Stephan Krampe – Partner (Tax)
Dominik Ernst – Senior Associate (Tax)
Clarissa Faulstich – Associate (Real Estate & Public)
Gabriel Gregori – Associate (Real Estate & Public)
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