02.10.2018 Noerr has advised GEG German Estate Group on a project partnership with Hansainvest Real Assets GmbH. Hamburg-headquartered Hansainvest is acquiring a 50 per cent stake in GEG’s Global Tower project development. Built in 1974, the Global Tower in Frankfurt is currently being completely refurbished. The overall amount being invested is around € 340 million. After the project’s completion in the late summer of 2020, Hansainvest will acquire the high-rise building completely for one of its special funds. GEG – one of Germany's leading real estate investors – will continue to be in charge of project development, letting and construction. The Global Tower will have over 33,000 square meters of rental space on 30 floors. GEG recently announced the first major letting of 9,170 square meters to Europe's leading provider of co-working spaces (Regus Group). Noerr provided GEG with comprehensive advice on all aspects of the transaction, in particular on tax structuring. A Noerr team headed by the partners Alexander Goepfert and Carsten Heinz acted for GEG. Noerr recently advised GEG on the acquisition of the Frankfurt Japan Center (investment: € 280 million) at the end of last year with a team headed by Alexander Goepfert and Christoph Brenzinger. In the real estate sector, Noerr offers a unique range of consulting services with its Real Estate Investment Group (REIG), which is headed by Alexander Goepfert and Annette Pospich. The practice group consists of more than 60 experts from all disciplines relevant to the real estate industry and with its interdisciplinary approach has continuously expanded its market share in recent years. Advisors to GEG German Estate Group: Noerr LLP Professor Alexander Goepfert (REIG/Real Estate, Frankfurt/Düsseldorf), Dr Carsten Heinz (REIG/Tax, Berlin/Munich, joint team lead), David Zafra Carollo (REIG/Real Estate, Düsseldorf), Ariane Neubauer (Private Equity, Berlin) Associates: Stephanie Meyer, Alexander Mühleisen (both REIG/Real, Düsseldorf), Sarah Blazek (Antitrust, Munich), Michael Tommaso (Tax, Berlin)
Spaces has agreed to lease 9,170 sq m in GEG’s Global Tower project in Frankfurt. The German company will be responsible for the construction of a new building on the site and is expected to start work next year.