Berlin – Berlin-based Deutsche Asset One GmbH, an asset and investment management service provider for residential property, has acquired a development comprising around 190 apartments, including underground parking, in Regensburg. The seller is a joint venture between Haupt Immobilien, a project developer headquartered in Munich, and Bucher Properties.
A CMS team headed by lead partner Dr Matthias Kuß advised Deutsche Asset One on the legal aspects of the acquisition for two institutional residential property funds managed by Deutsche Asset One on behalf of Union Investment and for Volksbank Raiffeisenbank Nordoberpfalz eG. The off-market transaction was structured as a share deal. The planned residential scheme is scheduled for completion by 2020. In addition to the purchase transaction, CMS also advised Deutsche Asset One on structuring the joint venture between the acquiring parties during the project development phase and after completion of the scheme.
Deutsche Asset One has also previously instructed CMS with regard to real estate transactions.
Deutsche Asset One is part of Dupuis Investment & Asset Management. It provides investment and asset management services with a focus on residential property in Germany. Deutsche Asset One / Dupuis Investment & Asset Management currently have real estate assets of more than EUR 1 billion under management, with plans to invest at least EUR 500 million more over the next two years.
Dr Matthias Kuß, Lead Partner
Dr Benjamin Schirmer, Counsel
Franziska Krokutsch, Senior Associate
Dr Katayun Zierke, Associate, all Real Estate & Public
Dr Igor Stenzel, Partner
Steffen König, Senior Associate, both Corporate