Deutsche Investment’s Acquisition of Altmarkt Karree in Dresden

GÖRG Partnerschaft von Rechtsanwälten and BWLS advised Deutsche Investment, while Jeben Mensching advised Quantum Immobilien KVG.

Deutsche Investment announced the acquisition of the Altmarkt Karree in Dresden for an institutional investor.

The Altmarkt Karree is a residential and commercial ensemble in the historic centre of Dresden and has 321 residential and 37 commercial units on a total leasable area of around 39,500 square metres. The acquisition was carried out within the framework of an individual mandate for an institutional investor, which intends to maintain a sustainable and long-term portfolio. The seller is Quantum Immobilien KVG on behalf of several German pension funds. The parties have agreed not to disclose the purchase price. The change of benefits and encumbrances took place on 1 February 2021.

The Altmarkt Karree was built between 1953 and 1960 in neoclassical style directly on Dresden’s Altmarkt, where the Dresden Striezelmarkt, one of Germany’s most traditional Christmas markets, is held. The listed ensemble includes 24 buildings that directly surround the Altmarkt-Galerie, one of the largest shopping centres in Dresden. In combination with the commercial tenants of the Altmark Karree, the Altmarkt has developed into the most popular gastronomy and strolling mile in Dresden.

The GÖRG and BWLS team included Dr. Stefan Frick (Picture), Dr. Eva Heideman, Michael Peter, Dr. Philipp Naab, Moritz Windheuser, Paul Caesar Rode, Benjamin Karten, Carsten Uphues, Kersten Wagner-Cardenal, Prof. Dr. Ulrich Ramsauer, Dr. Christian Bürger and Miroslav Georgiev.

The Jeben Mensching team was led by Dr. Philipp Jebens and Dr. Marius Eckebrecht.

Involved fees earner: Benjamin Karten – BWLS; Ulrich Ramsauer – BWLS; Carsten Uphues – BWLS; Kersten Wagner-Cardenal – BWLS; Philipp Naab – Gleiss Lutz; Christian Bürger – GÖRG Partners; Stefan Frick – GÖRG Partners; Miroslav Georgiev – GÖRG Partners; Eva Heidemann – GÖRG Partners; Michael Peter – GÖRG Partners; Paul Caesar Rode – GÖRG Partners; Moritz Windheuser – GÖRG Partners; Marius Eckebrecht – Jeben Mensching; Philipp Jebens – Jeben Mensching;

Law Firms: BWLS; Gleiss Lutz; GÖRG Partners; Jeben Mensching;

Clients: Deutsche Investment KVG; Quantum Immobilien KVG;