With a team led by Dr. Marc Scheunemann, Heuking Kühn Lüer Wojtek advised UK-based private equity real estate fund manager Benson Elliot on the sale of the headquarters of Berliner Volksbank in Berlin’s City West to Barings Real Estate Advisers. Barings has acquired the property by way of a share deal for a US institutional investor advised by Barings.
In early 2015, a consortium led by Benson Elliot had acquired the property from Berliner Volksbank. The nine-storey building at Budapester Straße 35 is in close proximity to Kurfürstendamm and comprises some 10,000 square meters of office space. Barings intends to demolish the building, still used by Volksbank until September 30, 2016, and replace it with a project development according to the design initiated by Benson Elliot and its partners.
Counsel to Benson Elliot
Heuking Kühn Lüer Wojtek:
Dr. Marc Scheunemann, LL.M. (Lead),
Dr. Tilman Spancken (Real Estate),
Kathrin Paulet (Real Estate),
Dr. Christian Appelbaum (Corporate/M&A),
Dr. Guido Hoffmann, LL.M. (Finance), all Düsseldorf
Klaus Weinand-Härer (Tax), Frankfurt