POELLATH advises Union Investment on the ac-quisition of the project developments Degerloch Office Center (DOC) 1 and 2 in Stuttgart
Union Investment has acquired the Degerloch Office Center (DOC) 1 and 2 developments on the southern edge of Stuttgart’s city center as part of a forward funding. The purchase is on behalf of UniImmo:Deutschland, an open-ended mutual real estate fund. The seller is the Freiburg-based project developer Unmüssig. The purchase price is around EUR 340 million.
The DOC 1 project development involves the core renovation of an office building constructed in 1989, with rental space of around 24,200 m² to be created from the 1st floor basement to the 3rd floor. The DOC 2 project development is a new building which will comprise a total of 22,800 m² of rental space from the 3rd floor basement to the 5th floor. DOC 1 and 2 are scheduled for completion in the fourth quarter of 2023.
POELLATH advised Union Investment on all tax law issues with the following Berlin team:
- Sören Reckwardt (associated partner, lead, tax law)
- Dr. Hardy Fischer (partner, tax law)
- Dr. Elisabeth Märker (senior associate, tax law)
For Union Investment’s in-house tax department, Timo Kopmann advised on the acquisition.