Swiss Life Asset Managers’ Acquisition of Stuttgart shopping mall SchwabenGalerie

GSK Stockmann has advised Swiss Life Asset Managers on the acquisition of the Stuttgart shopping mall SchwabenGalerie for a fund of its subsidiary Swiss Life Kapitalverwaltungsgesellschaft mbH (Swiss Life KVG). Seller is a fund of Deutsche Fonds Holding AG, Stuttgart.

The parties have agreed to keep the purchase price confidential.

The acquisition of SchwabenGalerie, which is one of the best-known shopping malls in Stuttgart, is located in Hauptstraße 26 / Schwabenplatz 7. It is the first purchase of Swiss Life KVG, founded at the end of November 2016. Corpus Sireo, the German real estate subsidiary of Swiss Life Asset Managers, acted as an exclusive investment and transaction manager.

In addition to the shopping center with its 41 retail stores, the property in Stuttgart-Vaihingen includes a hotel, an office complex and a car park with 957 parking spaces. The SchwabenGalerie covers a retail space of 20,000 sqm and each approximately 6,500 sqm of office and hotel space.

GSK Stockmann has provided comprehensive legal advice on the transaction to Swiss Life. The consultation included the examination and negotiation of the purchase contract, the registration to the cartel office, the performance of the due diligence as well as the advice on tenancy, land and public law as well as supervisory law.

GSK Stockmann has advised Swiss Life KVG with a team including Monique Franke (Picture) (Lead), Dr. Michael Eggersberger, Stefan J. Schlapka (all Real Estate), Dr. Alma Franke (Finance), Robert Kramer, Dr. Timo Bernau (both Banking), Dr. Nadine Wachendorf (Real Estate) Wolfgang Jegodka (Antitrust); Associates: Mechtild-Maria Siebke (Finance), Katharina Treichel, Julia Straßer (both Real Estate), Dr. Christian Kullick (Public Sector).

Involved fees earner: Monique Franke – Gsk Stockmann; Michael Eggersberger – Gsk Stockmann; Stefan Schlapka – Gsk Stockmann; Nadine Wachendorf – Gsk Stockmann; Katharina Treichel – Gsk Stockmann; Julia Straßer – Gsk Stockmann; Alma Franke – Gsk Stockmann; Robert Kramer – Gsk Stockmann; Timo Bernau – Gsk Stockmann; Wolfgang Jegodka – Gsk Stockmann; Christian Kullick – Gsk Stockmann;

Law Firms: Gsk Stockmann;

Clients: Swiss Life Asset Managers;