Berlin, July 13, 2017 – Greenberg Traurig Germany advised Curzon Capital Partners III (CCP III), a fund of the property management company Tristan Capital Partners, on the sale of the Neukölln Arcaden in Berlin. The buyer of the shopping center located in the fashionable neighborhood of Neukölln is Deutsche Alternative Asset Management UK Limited, a subsidiary of Deutsche Asset Management. Both parties agreed to keep the purchase price confidential.
The property is located at Karl-Marx-Straße at the heart of the district of Neukölln in the Southeast of Berlin. The shopping center comprises retail spaces totaling approx. 37,500 square meters on five floors and parking spaces for 600 vehicles. Major tenants include Kaufland, MediaMarkt, Deutsche Post, Rossmann, AOK, New Yorker, and Douglas. Furthermore, the Neukölln Arcaden also comprise the well-known roof garden bar “Klunkerkranich”, a cinema complex, and a fitness center.
Greenberg Traurig Germany advised the seller on all matters of real estate law relating to the transaction.
Background:
Greenberg Traurig Germany’s team has been assisting Tristan Capital Partners with transactions on a regular basis for several years. The team already provided advice on the acquisition of the Neukölln Arcaden in 2015. In the following years, the lawyers provided advice on the sale of the Karstadt property at München Hauptbahnhof and the sale of the shopping center “Walle-Center” in Bremen. Just recently, the lawyers assisted with the acquisition of the DuMont Carré in Cologne.
Tristan Capital Partners is an investment management company based in London that specializes in real estate investments for selected institutional and private investors in Great Britain and continental Europe.
Legal Advisors:
Partners: Dr. Peter Schorling (Lead Attorney, Corporate/M&A)
Dr. Nicolai Lagoni (Corporate/M&A), Dr. Martin Hamer (Government Law), Dr. Christoph Enaux (Antitrust Law)
Counsel: Dr. Anika Mitzkait (Finance)
Associates: Dr. Simon Pfefferle, Dr. Philipp Osteroth (both Corporate/M&A), Adrian Helfenstein, Kathrin Peiffer (both Real Estate/M&A)