DC Developments’ Acquisition Of Two Residential Towers In Hamburg From Unibail-Rodamco-Westfield

Clifford Chance has advised the French real estate and investment company Unibail-Rodamco-Westfield on the sale of two residential towers in the southern Überseequartier of Hamburg’s Hafencity. The buyer is Hamburg-based project developer DC Developments, which will develop the 400 owner-occupied flats in the two residential towers A and E3 on San-Francisco-Str. First, Unibail-Rodamco-Westfield will build an underground car park and retail space below the residential areas.

Building A will house around 300 flats on ten floors above the retail area on the ground floor. The 30 metre-tall building will have a tiered-structure on the southern side, rather like a set of steps, so that residents on the upper floors have roof terraces with a view over the River Elb. Building E3 has twelve residential floors above three commercial levels. It is 60 metres tall and will be home to 96 luxury residential units with versatile layouts.

Taken together, the buildings provide a total of around 27,600 m² of residential space. They were designed by local architects – Building A by Carsten Roth Architekt and Building E3 by KBNK Architekten GmbH. Like the rest of the district, which has 200 shops, restaurants and leisure units, a multiplex cinema, several hotels and a cruise ship terminal, the residential blocks are scheduled for completion in 2022.

The Clifford Chance team advising Unibail-Rodamco-Westfield comprised real estate specialists and partners Christian Keilich (Picture), Markus Böhn and Stefan Löchner, senior associate Amrei Fuder, associate Stephanie Cohen and legal support lawyer Regina Oldenburg (all Real Estate) as well as partner Thorsten Sauerhering and counsel Dominik Engl (both Tax, all Frankfurt).

In-house, Unibail-Rodamco-Westfield received legal advice from Petra Welge (Director of Legal).

DC Developments was advised by Jebens Mensching LLP (Hamburg).

Involved fees earner: Markus Böhn – Clifford Chance; Stephanie Cohen – Clifford Chance; Dominik Engl – Clifford Chance; Amrei Fuder – Clifford Chance; Christian Keilich – Clifford Chance; Stefan Löchner – Clifford Chance; Regina Oldenburg – Clifford Chance; Thorsten Sauerhering – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Unibail Rodamco;