DLA Piper advised PROJECT Immobilien Gewerbe AG on the deal.
PROJECT Immobilien Gewerbe AG completed the sale of the new office and commercial building “MACHWERK74” in Berlin. The buyer is Warburg-HIH Invest Real Estate GmbH in Hamburg. The building permit has already been granted and the office and commercial space is expected to be ready for occupation in the third quarter of 2022.
“MACHWERK74” is being built on an area of approximately 3,600m2 in the established Am Borsigturm business park in the Tegel city district. In addition to 5,963m2 of office space, the five-story new building with on-site underground parking will offer an additional approximately 1,840m2 for production-related business and approximately 555m2 for bistro operations. In addition, there are good transport links. The nearest underground and suburban train stations are within walking distance. The travel time to the nearest highway is only two minutes.
PROJECT offers properties and alternative investment funds in two independent groups of companies. Headquartered in Nuremberg, PROJECT Immobilien Group focuses on the development, construction and marketing of residential and commercial real estate in selected metropolitan regions.
The DLA Piper core team advising PROJECT was led by Partner Christian Lonquich (Picture) and comprised of associates Sascha Ryssok and Tobias Bergner (all Real Estate, Frankfurt). Also involved were partners Dr Marie-Theres Rämer (Tax) and Dennis Kunschke, senior associate Elena Bachmann (both Finance & Projects) as well as associate Eda Altintas (Tax, all Frankfurt).
Involved fees earner: Eda Altintas – DLA Piper; Elena Bachmann – DLA Piper; Tobias Bergner – DLA Piper; Dennis Kunschke – DLA Piper; Christian Lonquich – DLA Piper; Marie-Théres Rämer – DLA Piper; Sascha Ryssok – DLA Piper;
Law Firms: DLA Piper;
Clients: PROJECT Immobilien Gewerbe AG;