Bottermann Khorrami advises leading Scandinavian investor on real estate acquisition in Berlin and Bielefeld
- Legal support for a transaction with a volume of around 125 million euros
- Purchase includes 27 properties in Berlin and Bielefeld with 599 residential units and a total rental space of 44,650 square meters
- Bottermann Khorrami LLP has been providing legal advice to the housing company Heimstaden Bostad since its market entry in Germany in July 2018
Berlin, 3. February 2020 – The Berlin law firm Bottermann Khorrami LLP (BK Law) has provided legal advice to one of the largest privately managed housing companies in Scandinavia, Heimstaden Bostad AB (Heimstaden), on the purchase of a residential portfolio in Germany. The transaction comprises 27 properties in Berlin and Bielefeld with a total of 599 apartments, 48 commercial units and 36 parking spaces. There are 21 properties in the German capital alone. The company is thereby doubling its residential portfolio in Berlin. The total purchase price is around 125 million euros.
Esfandiar Khorrami, lawyer and partner of the law firm Bottermann Khorrami LLP, commented: “We provided Heimstaden with legal advice in particular on the challenging corporate structuring of the current acquisition as well as legal support for the due diligence and the negotiation of the purchase agreement for the residential buildings in Berlin and Bielefeld.“
The law firm, which specialises in real estate law, among other things, supports numerous institutional investors in real estate purchases on the German market. BK Law has been working with Heimstaden since the property company’s first investment in Germany in the summer of 2018 and has already advised on several transactions. Heimstaden plans further investments in the German real estate market.