STRABAG sells Hamburg's "Tanzende Türme" to HANSAINVEST for 165 million euros
STRABAG Real Estate GmbH, a leading company for project development in Germany and Europe and also part of the Austrian STRABAG SE, carried out Hamburg’s real estate project “Tanzende Türme“ (“Dancing Towers”).
With a total lease area of nearly 35,000 m² and with a height of up to 90 meters, the fancy skyscrapers in Hamburg’s urban district “Kiez” were built in 2013. Now, the Hamburg seated company HANSAINVEST GmbH acquired the majority stake in the project company from STRABAG Real Estate GmbH. HANSAINVEST GmbH is a fund subsidiary of the Signal Iduna insurance group. The purchase price amounts to approx. 165 million Euro.
In 2014, „Tanzende Türme“ were decorated with three of the most significant real estate awards (FIABCI Prix d'Excellence Germany 2014, „Mipim“-Award for best office and commercial premises 2014, and at the Immobilien-Award 2014 for best new construction). It is mainly used as an office building except for the 23rd and 24th floor where Clouds, Hamburg’s highest located restaurant, is located, and except for the basement - home of the legendary Mojo Club.
STRABAG Real Estate’s frequent legal advisers, Loschelder advised STRABAG also on this transaction. The sale of the stake in the project development company was led by Dr Stefan Stock MScRE and Dr Nikolai Wolff. Further advisers have been: Dr Jochen Möller and Dr Lars Menninger (both Real Estate Law) as well as Dr Frank Heerstraßen (Corporate). Marc Kotyrba from Renzenbrink Raschke von Knoberlsdorff Heiser supervised the tax part of the transaction. STRABAG’s in-house legal advisers were Rainer Fuchs and Nastasja Hartwich (both CLS Construction Legal Services GmbH, a subsidiary of the STRABAG group which is responsible for STRABAG transactions).
HANSAINVEST was advised by GSK Stockmann + Kollegen. The acquisition of the business share was supervised by Dr Rainer Stockmann (overall coordination, structuring) as well as by Michael Jani (Real Estate Law and Investment), furthermore, by Dr Michael Stobbe (Corporate/M&A) and Dr Dirk Koch (Tax). The GSK Stockmann + Kollegen team has been completed by Dr Thilo Franke, Anneke Focken and Frederick Brüning (all Real Estate Law), Dr Henrik Kirchhoff (Public Law/Real Estate Law), Florian Kossmann (Corporate) and Dr Sebastian Heß (Tax).