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Greenberg Traurig Advises Asterion on the Sale of over 1,350 Apartments in North Rhine-Westphalia and Saxony-Anhalt

BERLIN – Sept. 30, 2016 – Greenberg Traurig advised the Asterion group (Asterion) on the sale of more than 1,350 apartments in North Rhine-Westphalia and Saxony-Anhalt. The company acquired the portfolios in three transactions for a total price of 53.6 million euros. The newly acquired portfolios are overall expected to generate nearly five million euros annual net rent.

The sellers are institutional investors and a family. The exclusive transaction and asset manager for the buyer is Velero Partners.   

Greenberg Traurig comprehensively advised Asterion and Velero Partners on all aspects of the transaction. 
The Asterion group started up six months ago and has, in this time, built up a portfolio of around 2,870 apartments. Greenberg Traurig has advised the company since its formation and has also accompanied it in all its purchases.
Legal advisors:
Lead Shareholder: Dr. Josef Hofschroer (Corporate/M&A)
Associates: Claudia Stremel (Tax Law), Dr. Sara Berendsen, Alexander Ahrens (both Corporate/M&A)

About Greenberg Traurig Germany

Greenberg Traurig is one of the largest transactional law firms, serving clients from 38 locations across the globe. In Germany, more than 50 lawyers provide legal advice predominantly on transactions in the real estate, technology and telecommunications, media and entertainment, and infrastructure sectors.

The law firm is characterized by its integrated approach that combines legal know-how with in-depth industry knowledge. For this reason, the attorneys are regularly recommended by leading legal directories. In 2016, German newspaper Handelsblatt in conjunction with Best Lawyers recognized the team once again in its “Best Lawyers in Germany” ranking.

Greenberg Traurig was founded in the U.S. in 1967. Internationally, 2,000 attorneys in the U.S., Europe, Asia and Latin America offer legal advice to innovative companies.

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About Greenberg Traurig, LLP

Greenberg Traurig, LLP (GTLaw) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia and the Middle East and is celebrating its 50th anniversary. One firm worldwide, GTLaw has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and among the Top 20 on the 2016 Am Law Global 100. Web: Twitter: @GT_Law.