Ashurst advised Aberdeen Asset Management Deutschland AG (Aberdeen) on the acquisition of a residential complex in the German city of Koblenz for the special fund Aberdeen German Urbanisation Property Fund. The parties have agreed not to disclose the purchase price.

The parties have agreed not to disclose the purchase price. 

The property on Goebensiedlung 14-24 consisting of three building sections was completely gutted, revitalized, and expanded by two floors between 2011 and 2015. It has 11,794 sqm living space with 106 residential units, 40 single garages, and 108 outdoor parking spaces.

The Frankfurt-based Ashurst team was led by real estate partners Dr Liane Muschter and Dr Hendrik Theismann. They were supported by associate Daniela Kowalsky and paralegals Anja Stötzel and Oliver Lamberti (all real estate). Partner Dr Martin Bünning advised on tax law (all Frankfurt).

Ashurst regularly advises Aberdeen in relation to property transactions, predominantly on the acquisition of project developments. In 2016 this included projects in Munich, Dresden, Leipzig and other major German cities.