Herbert Smith Freehills advised Artmax Group (a Hong Kong based family office) on its market entry into Germany via the acquisition of an office property in Berlin. The seller is Nicolas Berggruen Group. The purchase price is in the mid double-digit million euro range.
The property at Fasanenstrasse 77 is the former premises of Löbbecke bank close to Kurfürstendamm. The building comprises a rental space of approx. 5,400 square meters and is fully leased.
The Herbert Smith Freehills team was led by Real Estate partner Sven Wortberg, and included partners Steffen Hörner (Tax), Marius Boewe (Public Law), Kai Liebrich (Finance), counsel Maximilian Reinhardt (Real Estate), and associates Ja Yeon Youm, Gelena Minkov (both Real Estate); Wladimir Leonhard (Tax), Kristin Kattwinkel (Public Law), Hannes Jacobi, Tim Abendschein (both Finance).