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Cases & Deals

June 25, 2019

Barings Real Estate Advisers Sells "The Westlight" in Berlin

Frankfurt, 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.