GÖRG Advises WealthCap on Sale of City Carré in Magdeburg
[Berlin, ] GÖRG Partnerschaft von Rechtsanwälten mbB advised WealthCap on the sale of the City Carré shopping centre and office building complex located on Ernst-Reuter-Allee and Otto-von-Guericke-Strasse in Magdeburg. The GÖRG team headed by Jan Lindner-Figura, which included in particular Silvio Sittner, advised WealthCap on the negotiation of the design and execution of the purchase agreement.
Built in 1997, Magdeburg’s City Carré consists of a total of six building units in the centre of the city. Because of its location, the City Carré retail arcade links the city’s main train station with downtown Magdeburg. Approximately 95 percent of some 129,000 sq. m. of the office, retail and warehouse space has been rented. In addition, the property has an underground garage with over 1,600 parking spaces for automobiles.
The sale of the property by WealthCap is one of a large number of transactions that have recently impacted the German real estate market. GÖRG regularly advises clients in connection with the acquisition or sale of larger office complexes and shopping centres, including most recently the purchase of the “Neue Mitte Fürth” shopping centre, the purchase of the “Charlottenstrasse 13” office and commercial building in Berlin and the sale of the Kaufhof headquarters location in Cologne.
Advisors to WealthCap
Angela Sturm, Law & Compliance
Susanne Pelz, Law & Compliance
GÖRG Partnerschaft von Rechtsanwälten mbB
Jan Lindner-Figura, Lead Partner, Real Estate, Berlin
Silvio Sittner, Partner, Real Estate, Berlin
Daniel Seibt, Partner, Real Estate, Berlin
Kirstin Schümann-Kleber, Partner, Finance, Berlin
Dr. Wibke Schumacher, Partner, Tax, Cologne
Michael Winkelhog, Associate, Tax, Cologne
Advisors to the Purchaser
CFZ LEGAL LLP
Dr. Cornelius Fischer-Zernin, Lawyer, Partner, Berlin