Swiss Life acquires “Weidensteg” project development for 710 apartments with Heuking
With a team led by Dr. Peter Zimmermann, Heuking Kühn Lüer Wojtek legally advised two property companies of Swiss Life Asset Managers on the acquisition of the “Weidensteg” project development in Hamburg-Bergedorf in an asset deal. The development was sold by a company of Hamburg-based project developer Hans-Werner Maas.
710 apartments in twelve buildings are to be constructed on the 48,000 square meter site at Weidenbaumsweg 133-143 along Schleusengraben. The development will also include a neighborhood center with a supermarket and a drugstore and comprise a total of 77,000 square meters of gross floor space. With planning going back as far as ten years, preconstruction steps such as soil remediation and site development are set to begin later in 2022.
Swiss Life Asset Managers is a well-known, ambitious, and reliable European asset manager and a leading institutional real estate asset manager in Switzerland, France, Germany, Luxembourg, the UK, and the Nordic countries. More than 2,500 employees work for Swiss Life Asset Managers in Europe. They provide services and develop tailored investment strategies for company-owned insurance companies and for third-party clients such as pension funds, investment foundations, asset managers, and private clients.
Following a construction of new residential buildings on the corner of Holstenstraße and Thadenstraße, the Bergedorf project is Swiss Life Asset Managers’ second residential development in Hamburg.
The team led by Dr. Peter Zimmermann regularly advises Swiss Life Asset Managers on comparable transactions.
Counsel to Swiss Life Asset Managers
Heuking Kühn Lüer Wojtek:
Dr. Peter Zimmermann (Lead, Purchase Contract Negotiations), Düsseldorf
Sandra Janberg (Due Diligence in Public Law), Düsseldorf
Mathis Dick, LL.M. (General Due Diligence), Düsseldorf
Dr. Marc P. Scheunemann, LL.M. (Transaction Advice), Düsseldorf