KanAM’s Fokus Süddeutschland fund’s Acquisition of Cloud No 7’s hotel in Stuttgart

Heuking Kühn Lüer Wojtek advised on the transaction

Cloud No 7 is a high-rise with luxury residences, business apartments, and a hotel in Stuttgart’s Europaviertel area. The hotel will be the first Jaz Hotel that will be part of Steigenberger group. Dr. Anne de Boer and Dr. Peter Zimmermann comprehensively legally advised on and coordinated the project consisting of the hotel sale, the financing replacement, the handover to Jaz/Steigenberger, and other legal issues in connection with the project. Cloud No 7 was originally financed by a publicly placed project development loan and the sale of the residences. The hotel was additionally refinanced by means of a borrower’s note loan of a German pension fund, which was repaid prematurely in full with the sale.

Heuking Kühn Lüer Wojtek advised Cloud No 7 group, a member of Schwäbische Wohnungs AG, with a team including Anne de Boer (Picture, Finance), Peter Zimmermann (Real Estate and Tenancy Law) and Fabian Gaffron (Tax)

Involved fees earner: Anne de Boer – Heuking Kühn Lüer Wojtek; Peter Zimmermann – Heuking Kühn Lüer Wojtek; Fabian Gaffron – Heuking Kühn Lüer Wojtek;

Law Firms: Heuking Kühn Lüer Wojtek;

Clients: Cloud No 7 GmbH;