Berlin, August 11, 2016 – Greenberg Traurig Germany advised Benson Elliot Capital Management (Benson Elliot) on the acquisition of a 74.9% stake in GWB “Elstertal“ Geraer Wohnungsbaugesellschaft mbH (GWB). The remaining shares are owned by the city of Gera. The seller is the insolvency administrator of the assets of Stadtwerke Gera AG, Dr. Michael Jaffé. The purchase agreement was closed last week. The purchase price was not disclosed.
GWB has approximately 50 employees and owns and manages a portfolio of around 6,700 residential units in Gera, the third-largest city in Germany’s Thuringia region. Benson Elliot has further extended their German real estate portfolio with this purchase.
Greenberg Traurig Germany advised Benson Elliot on their transaction in all aspects of corporate and real estate law, as well as in the areas of public, labor, and antitrust law.
Background:
Benson Elliot is an independent private equity real estate fund manager with a managed equity of over one billion euros. The company has a pan-European investment platform and manages a real estate portfolio of office, retail, hotel and residential properties.
The Greenberg Traurig Germany team has, since 2010, regularly advised Benson Elliot on real estate transactions. The attorneys recently accompanied the real estate company and its joint venture partner Kauri CAB Development on the acquisition of eight construction sites in Berlin’s Europacity.
Legal Advisors:
Lead Shareholders: Dr. Peter Schorling (M&A), Dr. Henrik Armah (M&A)
Other Shareholders: Dr. Martin Hamer (Public Law), Dr. Christoph Enaux (antitrust law)
Associates: Natalie Hsiao (M&A), Claudia Stremel (M&A), Dr. Sara Berendsen (M&A), Dr. Daniel Benighaus (Real Estate), Dorothee von Einem (Labor Law), Martin Culinovic (Antitrust Law), Oliver Markmann (M&A), Martin Dobias (Real Estate), Dr. Simon Pfefferle (M&A), Astrid Fleisch (Public Law)