Art-Invest Real Estate acquires the Port Event Center (Wolkenbügel) in Düsseldorf

Clifford Chance advised a subsidiary of Spanish METROINVEST (Grupo Metrópolis) on the sale of the Port Event Center (“Wolkenbügel”) in Düsseldorf.

The purchaser is a fund managed by Cologne-based real estate investment and asset management company Art-Invest Real Estate. The parties have agreed not to disclose the purchase price.

The property, situated within the Mediahafen in Düsseldorf, comprises approximately 7,300 sqm of lettable space and is characterised by its distinctive architecture. The “floating” construction of the office element gives the property its name and the building as a whole also comprises an event centre together with an historic, listed office building. Principal tenants of the office accommodation are the well-known advertising and media agencies GTB and Ogilvy & Mather.

The Clifford Chance team was led by partner Dr. Gerold M. Jaeger (picture) and comprised senior associate Dr. Sebastian Schmitt, associate Dominik Janson and transaction lawyer Marisol Peláez-Romero (all Real Estate, Frankfurt) as well as partner Dr. Thorsten Sauerhering, senior associate Dr. Dominik Engl and associate Florian Schwemmlein (all Tax, Frankfurt).

Involved fees earner: Gerold Jaeger – Clifford Chance; Sebastian Schmitt – Clifford Chance; Dominik Janson – Clifford Chance; Marisol Peláez Romero – Clifford Chance; Thorsten Sauerhering – Clifford Chance; Dominik Engl – Clifford Chance; Florian Schwemmlein – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Metroinvest;