Berlin, May 14, 2018 – Greenberg Traurig Germany advised a fund managed by Brookfield on the acquisition and financing of the Stuttgart International Centrum (SI-Centrum) in Stuttgart. For Brookfield, the acquisition of the SI-Centrum is the second major real estate acquisition in Germany after acquiring the Potsdamer Platz in Berlin at the end of 2015.
The properties of the SI-Centrum were sold by four three-country funds (Dreiländerfonds) for 145 million euros. The company responsible for the SI-Centrum's marketing was sold by balandis real estate AG. The entire complex comprises approximately 143,000 square metres of rental space consisting of several buildings with two stage musical theatres, a Cinemaxx cinema, the Stuttgart Casino, two hotels, a spa, several restaurants, bars and cafés as well as numerous apartments and car parking spaces. Approximately two million people visit the SI-Centrum every year.
Greenberg Traurig Germany provided wide-ranging advice on all legal aspects of the acquisition and financing.
Background: Greenberg Traurig Germany continuously advises Brookfield on the asset management of the Potsdamer Platz complex in Berlin.
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