Noerr advised Gateway Real Estate AG on the deal.
Gateway Real Estate AG signed a share purchase agreement for all shares of Development Partner AG as well as its business shares in three further project companies (51% of the business shares each of the project companies Revaler Straße 32 PE GmbH, Storkower Straße 140 PE GmbH and Storkower Straße 142-146 PE GmbH).
Thereby, the company entirely ends its activities in the “commercial properties development” segment and will only concentrate on the residential properties area in the future. Purchasers are private investors.
The total sales proceeds are in the lower three-digit million euro range. According to preliminary calculations based on figures not yet finally audited, the positive deconsolidation result on the balance sheet at group level is expected in the lower double-digit million euro range.
GATEWAY REAL ESTATE is a leading listed developer of commercial and residential real estate in Germany. The GATEWAY share offers investors the opportunity to participate in the sustained positive development of the German real estate market. The company’s focus is on the development of high-quality commercial and residential properties in high-demand German metropolitan regions.
Development Partner AG provides real estate products and services. The Company offers real estate project development services for inner-city businesses. Development Partner primarily operates in Germany.
The Noerr team was led by Felix Blobel (Picture) and Dr Laurenz Wieneke and included Dr Florian-Felix Marquardt, Marcel Behringer and Tanja Pflugradt.
Law Firms: Noerr;
Clients: Gateway Real Estate AG;