GSK Stockmann has advised a major Swiss asset manager in Germany on the sale of a 15,000 sqm office and commercial building as part of optimising its portfolio.

Built in 1993, the “F1” property has a total rental area of 15,000 sqm and is located in the immediate vicinity of the Pieschen S-Bahn station in Dresden. Deutsche Telekom is the main tenant, occupying 75% of the fully let building. The remaining space is shared by two specialist retailers.

The buyer is a family-run company specialising in project development and real estate portfolio management looking to expand its commercial portfolio throughout Germany.

The transaction was carried out via a structured sale process. A GSK Stockmann team led by Berlin-based partner Philip Huperz provided the asset manager with comprehensive legal advice in connection with the sale.

Advisers:

GSK Stockmann: Philip Huperz (lead), Julia Jacobs (both Real Estate Transactions & Asset Management)