Global law firm Dentons advised Cornerstone Real Estate Advisors GmbH on the acquisition of AIRE Klöpperhaus Verwaltungs GmbH – the entity which owns the Altes Klöpperhaus building - from Art-Invest Real Estate Group. The financing was provided by ING-DiBa. The purchase price was not disclosed.

Altes Klöpperhaus – which was built in 1904 and modernized in 2016 – is a well-known historical office building in the Nikolai-Quartier of Hamburg’s heritage-projected city center. The building comprises 6,200 sqm of office space. The main tenant is Mindspace, an Israeli provider of coworking offices.

Cornerstone will take over the asset management of the building.  Cornerstone is a real estate investment company which provides asset management services as well as lease and transaction management of single buildings and real estate portfolios. Art-Invest Real Estate is a Cologne-based project development and investment company investing in office, hotel and retail properties.

The Dentons team around Partner Volker Mergener advised Conerstone on all phases of the transaction, including financing.

Advisor Cornerstone Real Estate Advisers GmbH:
Dentons (Berlin/Frankfurt): Volker Mergener (Partner, lead, Real Estate), Bernhard Gemmel (Partner, Real Estate Finance), Jan Hellner (Counsel, Real Estate), Tobias von Gostomski (Counsel Real Estate Finance), Dr. Andrej Latinovic (Counsel, Real Estate), Ceren Türkekul (Associate, Real Estate Finance)