Greenberg Traurig advised HighBrook Investors, a real estate private equity investor, and an affiliate of BATO Group Real Estate Investments GmbH on the acquisition of the "Schuckert Höfe" in Berlin Treptow. The listed buildings were sold in an off-market transaction by a company of the Berggruen Group. It was agreed not to disclose the purchase price.
The "Schuckert Höfe" consist of several buildings under monument protection, that were originally constructed in the late 19th century and expanded throughout the 20th century. The property currently houses over 20,000 square meters of predominantly office floor space and has a preliminary building permit to build in excess of 10,000 square meters of additional commercial space. As part of a comprehensive revitalization program, the buildings are to be extensively renovated to create new office and commercial space.
HighBrook serves as majority partner and BATO Group will be both a minority partner and the asset manager responsible for implementing this revitalization program.
Greenberg Traurig's team provided advice to HighBrook and BATO Group on all legal aspects of the transaction.
Background: Greenberg Traurig has already advised the private equity firm HighBrook on several transactions in the Berlin real estate market.
The "Schuckert Höfe" consist of several buildings under monument protection, that were originally constructed in the late 19th century and expanded throughout the 20th century. The property currently houses over 20,000 square meters of predominantly office floor space and has a preliminary building permit to build in excess of 10,000 square meters of additional commercial space. As part of a comprehensive revitalization program, the buildings are to be extensively renovated to create new office and commercial space.
HighBrook serves as majority partner and BATO Group will be both a minority partner and the asset manager responsible for implementing this revitalization program.
Greenberg Traurig's team provided advice to HighBrook and BATO Group on all legal aspects of the transaction.
Background: Greenberg Traurig has already advised the private equity firm HighBrook on several transactions in the Berlin real estate market.
About Greenberg Traurig: Greenberg Traurig, LLP (GT), has approximately 2200 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 3.0 Certified. Web: www.gtlaw.com