Greenberg Traurig advised investment manager AVENTOS on the purchase of the OSRAM site in Berlin-Siemensstadt. The site is located at Nonnendammallee 44 and comprises a total area of 115,000 square meters as well as around 80,000 square meters of existing rental space. The parties have agreed not to disclose the purchase price.
According to AVENTOS, the property is to be developed into an urban, sustainably designed commercial location for a broad spectrum of users in the coming years. The property therefore offers 150,000 square meters of development potential. In addition to the historic glassworks ensemble, the site includes further production, logistics and office space.
Greenberg Traurig advised AVENTOS on all legal aspects of the transaction by way of a share deal with a sale-and-lease-back structure as well as on the financing. OSRAM can thus continue to operate on the site as tenant and main user while the property is further developed.
Background: The Greenberg Traurig team regularly advises the investment manager on transactions, project developments and asset management.
About Greenberg Traurig: Greenberg Traurig, LLP (GT), has approximately 2200 attorneys in 40 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100. The firm is net carbon neutral with respect to its office energy usage and Mansfield Rule 3.0 Certified. Web: www.gtlaw.com
According to AVENTOS, the property is to be developed into an urban, sustainably designed commercial location for a broad spectrum of users in the coming years. The property therefore offers 150,000 square meters of development potential. In addition to the historic glassworks ensemble, the site includes further production, logistics and office space.
Greenberg Traurig advised AVENTOS on all legal aspects of the transaction by way of a share deal with a sale-and-lease-back structure as well as on the financing. OSRAM can thus continue to operate on the site as tenant and main user while the property is further developed.
Background: The Greenberg Traurig team regularly advises the investment manager on transactions, project developments and asset management.