Gelbart Legal advises entity of the Berggruen Group on sale of Schuckert-Höfe
The Nicolas Berggruen Berlin Three Properties GmbH & Co. KG, a member of the Berggruen Group, has sold the Schuckert-Höfe in Berlin-Treptow as part of an off-market deal.
The property comprises several parcels of land including some landmarked industrial buildings and commercial halls (built in 1893), which are currently used as an office campus.
The property area is approx. 17,200 sqm, the commercial area approx. 20,043 sqm. The Schuckert-Höfe also have the potential for new construction, which has been secured by means of a preliminary building permit.
The Berggruen Group is a globally active group of companies headquartered in Los Angeles with offices in Berlin, Mumbai, Istanbul and Paris. It invests primarily in long-term corporate holdings and real estate.The buyer is a joint venture of New York-based HighBrook Investors and Berlin-based BATO Group, which intend to develop the Schuckert-Höfe together. Both parties have agreed on not disclosing the amount of the purchase price.
The seller was advised on legal matters by Gelbart Legal and on tax matters by Manske Rechtsanwälte Steuerberater, the buyer by Greenberg Traurig Germany LLP.