Swiss Life acquires “Behringold” in Dresden with Heuking
A team led by Dr. Peter Zimmermann, Partner at Heuking Kühn Lüer Wojtek, advised Swiss Life Kapitalverwaltungsgesellschaft mbH on the acquisition of the “Behringold” property in Dresden on behalf of the “Swiss Life REF (DE) European Living” fund as an asset deal. The portfolio property was sold by a subsidiary of investment manager Heitman.
The ensemble referred to as “Behringold” situated at Behringstrasse 53-57, Löbtauer Strasse 58-62, and Altonaer Strasse 10, comprises some 10,800 square meters of leasing space. The property, also known as Carré Löbtau, includes 148 residential units on five full and two stacked floors, 116 parking spaces, and two smaller commercial units. The property is almost entirely leased. The building was developed by then-CG group, which sold it to Heitman after completion in 2019. In 2015, CG had listed the investment volume for the development at about EUR 34 million.
Counsel to Swiss Life Kapitalverwaltungsgesellschaft mbH
Heuking Kühn Lüer Wojtek:
Dr. Peter Zimmermann (Lead, Purchase agreement negotiations),
Sandra Janberg (Due Diligence in the public sector),
Mathis Dick, LL.M. (General Due Diligence),
Dr. Marc P. Scheunemann, LL.M. (Transaction advice), all Düsseldorf
Counsel to Seller
Greenberg Traurig Germany, LLP:
Dr. Florian Rösch, Berlin