Global law firm Dentons has advised STADT UND LAND Wohnbauten-Gesellschaft mbH on the acquisition of a property portfolio containing just under 1,000 residential and six commercial units in the Marzahn-Hellersdorf district of Berlin. The transaction is still subject to approval by the cartel authorities. The portfolio acquired is nearly fully let and comprises buildings with around 56,500 sqm living space, distributed equally between Marzahn and Hellersdorf.
The municipal corporation STADT UND LAND is one of the six large real estate companies in Berlin currently owning around 42,000 apartments, 700 commercial units and administering around 9,000 rental units for third parties.
The Dentons team was led by Counsel Sebastian Schmid and included Partner Dirk-Reiner Voss, Counsel Boris Strauch, and Associates Dr. David Lange and André Morgenstern. The team advised STADT UND LAND on all real estate aspects including the due diligence and the negotiation of the transaction. Dentons has advised STADT UND LAND on several other real estate transactions in Berlin including advising on its 2014 acquisition of 1,200 apartments in Charlottenburg, Neukölln and Steglitz.
Advisor STADT UND LAND Wohnbauten-Gesellschaft mbH:
Dentons (Berlin/Frankfurt): Dirk-Reiner Voss (Partner), Sebastian Schmid (Counsel, leading), Boris Strauch (Counsel), Dr. David Lange (Senior Associate), André Morgenstern (Associate, all real estate).
