DLA Piper has advised CORESTATE Capital Holding S.A., a fully integrated investment manager and co-investor based in Luxembourg, on its acquisition of the micro-living asset "WOODIE", with 371 student apartments in Hamburg, Germany.

This asset was purchased for the real estate umbrella fund, which was launched on the Luxembourg AIF-Platform of Universal-Investment on behalf of Bayerische Versorgungskammer (BVK).

The student residence was completed in autumn 2017 and comprises a total rental area of 7.700 square metres spread over 371 apartments, two shared utility rooms and two commercial units. The asset, a seven-storey hybrid building constructed of reinforced concrete and wood, is located in Hamburg Wilhelmsburg, a new urban quarter on the Elbinsel island south of the city centre. The 20-square metre apartments are completely made of wood.

CORESTATE Capital Holding S.A. is an investment manager and co-investor with approximately € 22 billion in assets under management. CORESTATE is headquartered in Luxembourg and has 41 offices including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs over 530 people and is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange.

The DLA Piper team advising on the transaction was led by Frankfurt-based Corporate partner Dr Silke Gantzckow, assisted by Real Estate partner Dr Florian Biesalski, senior associates Dr Dennis Hog, Real Estate, Moritz Schoenpflug, Intellectual Property & Technology, Corporate foreign associate Roberto Fordiani and Corporate notarial assistant Stephan Orf. They were supported by Cologne-based Litigation & Regulatory senior associate Dr Volker Lemmer, Munich-based Real Estate associate Philipp Moser and Finance & Projects partner Xavier Guzman, Corporate senior associate Ambroise Foerster and Corporate associate Corinna Schumacher in Luxembourg.