backFrankfurt, February 18, 2021 — King & Spalding advised HANNOVER LEASING, a subsidiary of CORESTATE Capital Group, on the acquisition of the state-of- the-art project development ‘Weitblick 1.7’ in Augsburg’s Innovation Park by way of a forward deal.
The acquisition with an investment volume of approximately €85 million was made for a closed-end domestic special AIF. The seller is a joint venture of Audax GmbH and Leitwerk AG. The "Weitblick 1.7" building, which is still in the construction phase, is one of the most modern buildings in the region, stands out for its innovative technical and sustainable features and is expected to receive a LEED-platinum certificate. The property has a total lettable space of approximately 17,800 m² of which most is already leased to major companies. Constructions are expected to be completed in the second quarter of 2021.
King & Spalding advised Hannover Leasing on all legal and tax aspects of the acquisition transaction. The Frankfurt based team included Henning Aufderhaar (lead), Mario Leissner, Axel Schilder and Sten Hornuff.
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