Berlin—Global law firm Dentons advised a special fund of an Asian investor issued by investment company KanAm on the acquisition of a real estate complex in Berlin-Mitte. The “Am Zirkus 1” complex includes a hotel as well as residential and commercial real estate. The acquisition comprises offices and a hotel with a total of 16,500 sq.m., of which the hotel accounts for 11,400 sq.m. The Sellers are project developer and investor Peach Property Group AG and DIAG Deutsche Immobilien AG. The parties agreed to keep the purchase price confidential.

The ten-story complex was constructed from 2009 to 2014 on a historical property – in the 19th century, Berlin’s first covered market was located there, followed by a circus and then the old Friedrichstadtpalast. The hotel complex acquired in this transaction houses a hotel of Fattal Group, which is operated under the Leonardo brand. The hotel opened in August. The office spaces of the complex are mainly rented to consulting firm Roland Berger. Additionally, Eike Becker designed building has a prominent neighbor—luxury residential project “Yoo Berlin”—and was certified on Tuesday (7 October) for its sustainability by the German Sustainable Building Council (Deutsche Gesellschaft für nachhaltiges Bauen).

The Dentons team led by Counsel Dr. Joachim Homeister advised the buyer on all legal and tax-related questions regarding the transaction. This includes, in addition to the due diligence, the contract design and the certification of the transaction. Dentons already has a long-standing relationship with this client: In July Dentons advised KanAm on the acquisition of an office building in Düsseldorf.

Advisor KanAm:
Dentons: Dr. Joachim Homeister (Counsel, leading), Jan Hellner (Counsel, both Real Estate),Elena Homeister(Associate, Real Estate, Moscow)

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