Ashurst advised Aberdeen Asset Management Deutschland AG (Aberdeen) on the acquisition of the residential project "Wohnen im Brühl" in the German city of Erfurt. Seller of the project which will offer 50 apartments and 60 underground parking spaces on Bonemilchstraße in Erfurt’s Brühlervorstadt district is the Erfurt-based Dr. Ullrich Real Estate GmbH who will also take care of leasing the units adding up to about 4,650 square metres. Dr. Ullrich Real Estate GmbH wants to start construction this summer. Completion is scheduled for Q3 of 2020.

The Ashurst team was led by partners Dr Liane Muschter and Dr Hendrik Theismann, assisted by associate Daniela Kowalsky and paralegal Abdulruhman Al Edel (all real estate). Partner Dr Martin Bünning and associates Carina Park and Philipp Lorberg 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.