According to Commerz Real construction of the project is scheduled to start at the end of 2021. It will have a total of 7,900 square meters of residential space and 600 square meters of commercial space. A building permit has already been issued. In total, 98 residential units and 132 underground parking spaces are to be built.
Greenberg Traurig advised Commerz Real comprehensively on the legal aspects of the transaction by way of a forward deal.
Background: Commerz Real is a long-standing client of the firm. The Greenberg Traurig team has already advised the Commerzbank Group company several times on transactions in the residential sector, for example on the acquisition of the residential complex "Nockherberg NOC 2.4" in Munich.
About Greenberg Traurig: Greenberg Traurig, LLP (GT) has approximately 2300 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 4.0 Plus Certified. Web:www.gtlaw.com