Ashurst advised Warburg-HIH Invest Real Estate GmbH on the acquisition of “urban view”, a residential property development in Heidelberg-Bahnstadt.
The Hamburg-based real estate investment manager acquired the project as part of an asset deal for an institutional investor’s open-ended special-AIF. The development’s seller is LBBW Immobilien Development.
The quarter, which is to be built in the city’s Bahnstadt district, comprises five apartment blocks with 79 apartments and a surface totalling 7,700 square meters of rental space as well as 82 underground parking spaces and 198 bicycle stands. The property development’s completion is scheduled for the second quarter of 2019. In Bahnstadt, LBBW has already realized the residential projects “urban green” and “urban element”.
The Ashurst team was led by real estate partner Dr Liane Muschter (picture), assisted by associate Sven Nickel and paralegal Anja Stötzel (both real estate). Partner Dr Martin Bünning and associate Carina Park advised on tax law.
Law Firms: Ashurst;
Clients: Warburg-HIH Invest;