BERLIN – 19 October 2026 – Global law firm Greenberg Traurig advised Vastint on the joint venture with Hines to acquire and develop the Glasmacherviertel site in Düsseldorf-Gerresheim. Vastint holds the majority interest in the Joint Venture. The partners plan to develop the approximately 193,000-square-meter former industrial site into a predominantly residential urban district.
According to the current plans, approximately 1,600 to 1,800 residential units are to be developed on the site. The current planning concept provides for approximately 210,000 square meters of gross floor area, at least 80 percent of which is intended for residential use. The plans also include local retail and dining amenities, social infrastructure and public green spaces. Three historic buildings on the former glassworks site are to be preserved.
The neighbourhood is planned to be developed in several construction phases. Its final design remains subject to the ongoing planning and approval process.
Greenberg Traurig advised Vastint on all legal aspects of the transaction related to the formation of the joint venture, including the drafting and negotiation of the transaction documentation and matters of public law.
Background:
This was the first time Greenberg Traurig was instructed by Vastint