Norton Rose Fulbright has advised Real I.S., BayernLB’s fund service provider specializing in real estate investments, on the acquisition of the Airfield Office project.
The building complex in the Konrad-Zuse-Straße in Böblingen was acquired by way of a forward commitment for its Real I.S. “Regionalfonds Süddeutschland”, a fund for institutional customers. The seller is a joint venture company of Stuttgart-based property developer W2 Development GmbH and investment specialist Competo Capital Partners GmbH in Munich.
The building is due for completion in the first quarter of 2019 and comprises a commercial space on an area of 11,400 sq m. The anchor tenant in the virtually let property is Harman Becker Automotive Systems GmbH, a subsidiary of Samsung Electronics Co. The building was designed with special emphasis on sustainability, energy efficiency and optimised operating costs.
The project is currently one of the largest urban developments in the region of southern Germany. It is located on the Böblingen/Sindelfingen airfield in the direct vicinity of Böblingen station and town centre. The new intercommunal district covers an area of approximately 80 hectares and connects the towns of Böblingen and Sindelfingen.
The Norton Rose Fulbright team was led by corporate partner Dr. Maren Stölting (Picture), with assistance from partners Dr. Andrea Spellerberg (finance) and Tino Duttiné (tax), of counsels Sabine Meinert (real estate), Dr. Jan-Willem Jensen (supervisory law) and Dr. Frank Bayer (tax) as well as associates Valentina Navetta (corporate), Stefanie Mösges (real estate) and Matthias Zimmermann (finance).
Involved fees earner: Frank Bayer – Norton Rose Fulbright; Tino Duttiné – Norton Rose Fulbright; Jan-Willem Jensen – Norton Rose Fulbright; Sabine Meinert – Norton Rose Fulbright; Stefanie Mösges – Norton Rose Fulbright; Valentina Navetta – Norton Rose Fulbright; Andrea Spellerberg – Norton Rose Fulbright; Maren Stölting – Norton Rose Fulbright; Matthias Zimmermann – Norton Rose Fulbright;
Law Firms: Norton Rose Fulbright;
Clients: Real I.S. AG ;