DLA Piper has advised HanseMerkur Grundvermögen AG on the acquisition of the “Office Center Überseestadt” for one of its open-ended special real estate funds from companies of the Gustav Zech Foundation.

 

The asset is located in Bremen’s Überseestadt district, one of Europe’s largest urban development projects approximately three kilometres west of Bremen city centre. The building complex comprising a rentable floor space of roughly 22,000 square metres, is being developed in two construction phases. The first section of the building including a car park was completed in August 2018, and the second section of the building is expected to be ready for occupation at the end of 2019. The property is already fully let.

 

HanseMerkur Grundvermögen AG is a professional asset manager in charge of the real estate activities of the HanseMerkur Insurance Group. Founded in Hamburg in 2014, the company is responsible for the optimization and substantial expansion of the insurance group's real estate portfolio. This involves establishing open-ended special real estate funds with a clear regional and sectoral focus.

 

The DLA Piper Team in Frankfurt led by Real Estate partner Fabian Mühlen and counsel Dr. Dennis Hog, comprised Tax partner Dr. Björn Enders and senior associate Andreas Habig, Real Estate senior associate Moritz Mursa, alongside associates Julian Jung and Konstantin Decker-Horz.