Watson, Farley & Williams (ʺWFWʺ), a leading international law firm, is pleased to announce that it has advised Frasers Hospitality Group (“Frasers Hospitality”) on the negotiation and conclusion of a real estate purchase agreement regarding a serviced apartments project development from HOCHTIEF Projektentwicklung GmbH.
The serviced apartments project, centrally located close to the Museumsinsel in Berlin, Germany, will contain 145 modern serviced apartments and have a total floor space of approximately 8,500 m2. The serviced apartments project will be developed and constructed by HOCHTIEF Projektentwicklung and, upon completion, operated by Frasers Hospitality. In 2012, WFW advised Frasers Hospitality on the acquisition of their first German apart‐hotel in Frankfurt/Main, comprising 153 serviced apartments (to be opened in 2015).
Frasers Hospitality, a subsidiary of Frasers Centrepoint Limited, Singapore, is an award‐winning global leader in serviced apartments. Their portfolio contains more than 8,000 high quality residences in central locations in key cities worldwide under the Fraser brands, each offering distinct and authentic designs. The recent acquisitions in Germany support Frasers Hospitalityʹs growth strategy of continuously exploring new markets and properties in Europe, the United States, the Middle East and the Asia‐Pacific region.
WFWʹs international team was led by Hamburg‐based partner Dr. Sebastian Baum (Corporate/Real Estate). He was supported by partners Michael‐Alexander Rojnic (Real Estate, Hamburg), Verena Scheibe (Tax, Hamburg) and Felicity Jones (Corporate, London) as well as associates Alexander Schroer, Florian Leonhard and Ursula Staab (all Corporate/Real Estate, Hamburg).
Lead partner Dr. Sebastian Baum commented: ʺWe are delighted to have advised Frasers Hospitality on another successful serviced apartments project acquisition in a prominent location of a major German city. Once again, the trusted cooperation between Frasers Hospitality and WFW has undoubtedly contributed to an efficient conclusion of this investment.ʺ
