BEITEN BURKHARDT has provided advice to Kauri CAB Management GmbH (KCM) and Apeiron Capital, London/Stockholm on the structuring and financing of an international real estate joint venture with an internationally operating state fund.

BEITEN BURKHARDT has then assisted with the acquisition and financing of the first portfolio of 61 mainly residential buildings with some 120,000 square meters leasable area in Berlin/Brandenburg (70 percent) and Magdeburg (30 percent) for a purchase price of EUR 130m.

The acquisition relates to 1,675 residential units and 105 commercial spaces in Berlin, Brandenburg und in Magdeburg. The seller is the Erlangen-based ZBI Zentral Boden Immobilien AG.

The BEITEN BURKHARDT-Teams headed by Dr. Karl-Dieter Müller and Michael Ziegler rendered comprehensive advice especially on corporate, real estate and tax law aspects, and also on financing issues.

The newly established joint venture is vested with equity capital in the amount of EUR 100m and it plans to acquire further properties up to a total value of approx. EUR 300m in the short term.

KCM is an investor specialised in residential properties who regularly makes investments in joint ventures together with institutional investors. Established in 2008, KCM can look back on an overall investment volume of approx. EUR 350m by now.

Adviser Kauri
BEITEN BURKHARDT: Dr. Karl-Dieter Müller (M&A, Corporate) and Dr. Malte Strüber (Tax Law, M&A), both in charge of the transaction; Michael Ziegler, in charge of the financing; Dr. Klaus Kemen, Christian Hipp and Anja Fischer (Real Estate Law, M&A); Insa Müller (Contract Law, M&A); Uwe Wellmann (Cartel Law); Dr. Dirk Tuttlies (Regulatory Law)