A team led by Dr. Peter Zimmermann, Partner at Heuking Kühn Lüer Wojtek’s Düsseldorf office, legally advised AXA Investment Managers comprehensively on the acquisition of a planned residential development in Erfurt for EUR 30 million.
The complex, to be built by a local developer, provides for 137 residences in eight buildings, with rental space covering more than 11,500 square meters. Construction is expected to start in Q2/2016, with completion scheduled for the end of 2018. AXA will contribute the property into a German residential real estate fund aimed at professional investors.
Most recently, the team led by Zimmermann had advised long-standing client AXA on the sale of "Phönix Center" in Fürth.
Counsel to AXA Investment Managers
Heuking Kühn Lüer Wojtek:
Dr. Peter Zimmermann (Contract Negotiations Real Estate and Lead),
Kathrin T. Paulet (both Real Estate Due Diligence and Contract Management),
Dr. Marc P. Scheunemann (Tax Law Structuring and Due Diligence), all Düsseldorf