backFrankfurt, June 25, 2019 — King & Spalding advises Barings Real Estate Advisers on the sale of the newly built office property "The Westlight" in Berlin to a consortium consisting of Generali Real Estate and Poste Vita as part of a bidding process.
The new 15-story building, which is planned to be finished up by mid-2020, has 19,500 m² lettable space and is centrally located at Budapester Strasse 35, corner Kurfürstenstrasse in Berlin. Greenberg Traurig already has signed a lease contract for approx. 7,000 m², other tenants are expected to follow soon.
King & Spalding has advised the client on the tax structuring of the transaction and other tax-related issues. The Frankfurt based team included Dr. Axel Schilder (lead) and Marcel Schuster.
Barings Real Estate Advisers is a global real estate investment and asset management firm with 29 offices across the U.S., Europe and Asia.