Simmons & Simmons has advised investment manager Meyer Bergman on the acquisition and financing of the Karstadt Department Store at Berlin’s Hermannplatz from investment consortium Highstreet Holding.

The 90.000 m^2 building is one of the largest city-centre department stores in Germany and has been purchased by the Meyer Bergman managed Meyer Bergman European Retail Partners II fund. The store itself is adjoined by a multi-storey car park with space for 680 vehicles and integrates a block for office and residential use.

Meyer Bergman is a real estate investment management firm headquartered in London which specialises in retail real estate.

The Simmons & Simmons team was led by Banking partner Stefan Schramm who already advised Meyer Bergman on a number of investments in Germany. He was assisted by Real Estate Counsel Matthias Wagner and Banking Associate Caroline Glänzel.