Greenberg Traurig advised Commerz Real and Wertgrund Immobilien (Wertgrund) on the acquisition of the project development “Königshöfe” in Dresden.
The seller is the CG Group. The acquisition took place by way of a forward deal. The purchase price amounts to approximately EUR 70 million.
The residential project on Palaisplatz in the district “Innere Neustadt” will comprise around 200 apartments with a total living space of approximately 15,000 square meters, 266 underground parking spaces and a small commercial area. Completion and transfer into Commerz Real’s open-ended property fund “hausInvest” are planned for 2022. Wertgrund accompanied the transaction and will assume responsibility for letting and portfolio management.
The Greenberg Traurig team was composed by Wencke Bäsler (Picture) and Bineta Diambang.
Law Firms: Greenberg Traurig;