Ashurst advised Aberdeen Asset Management Deutschland AG (Aberdeen) on the purchase of housing project "LEO - Urban Living" from Kondor Wessels Holding GmbH (Kondor Wessels). 171 apartments with a total of 9,480 square meters of living space are to be built on the approximately 4,700 square meters of land in Berlin, Löwenberger Straße 1, 3, 5. In addition, two commercial units totalling 157 square meters and 40 underground parking spaces are planned. Completion of the project is scheduled for spring 2020. Aberdeen takes over the flats for the real estate special fund Aberdeen German Urbanization Property Fund.

The Ashurst team was led by partners Dr Liane Muschter and Dr Hendrik Theismann. Associate Daniela Kowalsky and paralegals Abdulruhman Al Edel and Anja Stötzel (all real estate) assisted. Partner Dr Martin Bünning and associate Carina Park advised on tax aspects (all Frankfurt).

Ashurst regularly advises Aberdeen in relation to property transactions, predominantly on the acquisition of project developments. In 2017 this included projects in Berlin, Munich, Dresden, Leipzig and other major German cities.