Peakside Acquires Premium Asset of the 'Historic Telecommunications Office Schlüterstraße'
Baker & McKenzie advised Peakside Capital Advisors AG on the acquisition of the premium asset of the 'Historic Telecommunications Office Schlüterstraße' (Fernsprechamt Schlüterstraße) in Hamburg-Rotherbaum. This transaction is the fourth investment for the Peakside Real Estate Fund II ("PREF II").
The asset originates from the former Wölbern Fund Deutschland 01, which is now managed by Nordcapital. The listed building with approximately 50,000 square meters is adjacent to the campus of the University of Hamburg and is nearly fully let to and used by Deutsche Telekom, Deutsche Post and the University of Hamburg.
"With this acquisition our client was able to expand its portfolio in Germany with an attractive investment in a sought-after location in Hamburg. We are pleased that we were able to yet again advise
Peakside on this significant transaction," commented Dr. Florian Thamm, Lead Partner and Head of EMEA Real Estate Group at Baker & McKenzie. Peakside is a real estate fund manager specialized in Europe with offices in Germany (Frankfurt and Munich), Switzerland, Poland and Luxembourg with more than 30 employees. Peakside is an independent privately owned company which manages investments in eight different European countries with a total value of over EUR 1.4 billion.
The Real Estate Group of Baker & McKenzie regularly advises investors on real estate transactions, most recently among others Peakside Capital on the sale of Square 41 in Frankfurt and the Malaysian state pension fund EPF (Employees Provident Fund) on its joint venture with the Dietz Group.
Legal advisor Peakside:
Baker & McKenzie
Real Estate: Dr. Florian Thamm (Partner, Frankfurt),
Real Estate: Dr. Daniel Bork (Associate, Frankfurt)
Corporate: Dr. Christian Vocke (Partner, Frankfurt), Torsten Schmitt (Partner, Luxembourg), Celine Reymond (Senior Associate, Luxembourg), Sabine Brandes-Juli (Associate, Luxembourg)