01.03.2018

Berlinovo sells cinema package with Luther

Berlinovo has managed the sale of a real estate package consisting of nine cinemas and a hotel for fund companies managed by Berlinovo. Luther provided legal support.

Background

Berlinovo, an investment of the State of Berlin, has managed the sale of a real estate package consisting of nine cinemas and a hotel for fund companies managed by Berlinovo. The Berlin-based real estate law team of Luther Rechtsanwaltsgesellschaft provided legal support to the company. PW Real Estate Fund III was awarded the contract in a structured bidding process.

The properties, grouped together in the "Pollux Project", are located in Hamburg, Düsseldorf, Karlsruhe, Duisburg, Neuss, Kaiserslautern, Villingen-Schwenningen, Wilhelmshaven and Wolfsburg. Luther provided legal support for the bidding process and the sales contract negotiations on behalf of the seller.

The buyer, PW Real Estate Fund III (PWREF III), is an investment vehicle for real estate and property-related investments in Europe. Aermont Capital LLP is the investment manager of PWREF III.

For Berlinovo Immobilien Gesellschaft:

Luther Rechtsanwaltsgesellschaft mbH, Real Estate:

<link https: www.luther-lawfirm.com en people adviser detlev-stoecker.html external-link-new-window>Detlev Stoecker (Partner), <link https: www.luther-lawfirm.com en people adviser carsten-brutschke-llm-ehi.html external-link-new-window>Carsten Brutschke (Partner),

Lucia Schacht  (Associate), <link https: www.luther-lawfirm.com en people adviser hagen-brasse.html external-link-new-window>Hagen Brasse (Associate)

Inhouse:

Britta Derwald, Head of Fundamental Issues/Real Estate Law

For PW Real Estate Fund III (PWREF III):

Freshfields Bruckhaus Deringer LLP

Dr. Friedrich Heilmann (Partner), Dr. Tim Behrens (Principal Associate), Dr. Marcus Emmer (Of Counsel), Anne Harder (Associate)