Global law firm Dentons advised a special fund of an Asian investor issued by investment company KanAm on the acquisition of a real estate complex in Berlin-Mitte. The complex “Am Zirkus 1” includes a hotel as well as residential and commercial real estate. The acquisition comprises offices as well as the hotel with a total of 16,500 m², of which the hotel accounts for 11,400 m². Sellers are project developer and investor Peach Property Group AG as well as DIAG Deutsche Immobilien AG. The parties agreed to keep the purchase price confidential.
The ten-story complex was constructed from 2009 to 2014 on a historical property—in the 19th century, Berlins first market hall was located here, later a circus and afterwards the old Friedrichstadtpalast. The hotel complex sold in this transaction houses a hotel of Fattal-Group, which is operated under the Leonardo brand. The hotel opened in August. The office spaces of the complex are mainly rented to consulting firm Roland Berger. Additionally, the object designed by Eike Becker has a prominent neighbor, luxury residential project “Yoo Berlin,” and has been certified for its particular sustainability by DGNB – Deutsche Gesellschaft für nachhaltiges Bauen on Tuesday.
The Dentons team led by Counsel Dr. Joachim Homeister has advised the buyer on all legal and tax-related questions regarding the transaction. This includes, in addition to the due diligence, also the contract design as well as the certification of the transaction. Dentons already has a longer relationship with this client: In July Dentons advised KanAm on the acquisition of an office building in Düsseldorf.