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Greenberg Traurig advises Wertgrund on the acquisition of a project development with 165 apartments in Hanover

Greenberg Traurig has advised WERTGRUND Immobilien AG (Wertgrund) on the acquisition of a residential project development in Hanover for two funds managed by Wertgrund. The acquisition was structured through a forward deal. The notarization already took place at the end of 2020. With the granting of the building permits, the transaction is now implemented. On the 15,000-square-meter site, 165 apartments will be built, as well as some commercial units and a childcare centre. Construction is scheduled to begin by the end of 2022, with completion planned in two years. The total investment volume of the purchase is approximately EUR 50 million.

Greenberg Traurig comprehensively advised Wertgrund on all legal aspects in the areas of real estate/M&A and planning law.

Wertgrund has been a client for more than ten years. Greenberg Traurig has advised Wertgrund and the funds managed by Wertgrund on several transactions in the German real estate market.

About Greenberg Traurig: Greenberg Traurig, LLP has more than 2500 attorneys in 43 locations in the United States, Europe, Latin America, Asia, and the Middle East. The firm reported gross revenue of over $2 Billion for FY 2021 and is consistently among the top firms on the Am Law 100, Am Law Global 100, and NLJ 250. On the debut 2022 Law360 Pulse Leaderboard, it is a Top 15 firm. Greenberg Traurig is Mansfield Rule 5.0 Certified Plus by The Diversity Lab and the Center for Resource Solutions Green-e® Energy program certifies that the firm’s U.S. offices are 100% powered by renewable energy. The firm is often recognized for its focus on philanthropic giving, innovation, diversity, and pro bono. Web: