Ashurst advised Aberdeen Asset Management Deutschland AG ("Aberdeen") on the purchase of a residential project on Karlsbader Platz 2-28 in Wiesbaden for one of its special funds for institutional investors. The project which is Aberdeen's second investment in the state capital of Hesse was sold by Hanseatic Wiesbaden GmbH, a project company of Hanseatic Group. The parties have agreed not to disclose the purchase price.

In addition to 168 residential units, the architectural ensemble on a lot of just over 13,000 square metres in the city's Rheingauviertel District includes an Edeka supermarket as well as around 130 underground parking spaces. The completion of the project is scheduled for the end of 2017.

The Ashurst team was led by real estate partner Dr Liane Muschter. Senior associate Dr Hendrik Theismann assisted. Heiko Penndorf and senior associate Felix Krüger advised on tax aspects (all Frankfurt).

Ashurst regularly advises Aberdeen on the purchase of project developments, mainly residential houses and mixed-use properties, in Germany. In 2014 this comprised projects in Frankfurt am Main, Hamburg, Berlin, Stuttgart and other major German cities.