Berwin Leighton Paisner* advises Select Group on its first investment in Germany
International law firm Berwin Leighton Paisner* (BLP) has advised Select Group on the acquisition of the ‘niu Air’ hotel in Frankfurt, from GBI AG. The investment is Select Group’s first venture into the German market.
The niu Air Hotel is currently under construction and will house 344 rooms in Leonardo-da-Vinci-Allee, near the Rebstockpark district, in the vicinity of the Messe Frankfurt exhibition grounds. The hotel is to be completed in the fourth quarter of 2019.
Rahail Aslam, Group CEO of Select Group commented: “We are very pleased with the addition of ‘niu Air Frankfurt’ to Select Group’s growing hospitality portfolio. This acquisition is in line with our strategy to invest in core European markets with a sound growth potential.”
Select Group was founded in 2002 and is now a globally active real estate investor headquartered in Dubai. The company is heavily focused on project developments. Duxton Capital served as transaction consultant for the acquisition of the niu Air. The company advises leading international investors on their real estate investments in Europe.
“It was a pleasure to accompany Select Group on their first investment in Germany, and we are very pleased that we could help our client complete the transaction in under two months”, said Stephan Krampe, lead Partner on the transaction. He has also been a regular advisor to Duxton Capital, including on their recent acquisition of a project development near Berlin’s Südkreuz which is envisioned to become the new German headquarters of energy producer Vattenfall.
On the latest transaction, BLP advised Select Group on all legal real estate, tax and regulatory issues. Other members of the BLP team included Frankfurt Partners Boris Strauch (Real Estate & Public) and Tina Siebenhaar (Real Estate) as well as the Frankfurt based associates Michaela Penkalla (Real Estate) and Gabriel Gregori (Real Estate & Public).
*On 1 April 2018, Bryan Cave and Berwin Leighton Paisner combined their legal practices to form Bryan Cave Leighton Paisner. The merger has not yet been completed in Germany at the present time, but is intended to be so in the future. Pending regulatory confirmation, we continue to practise as two separate legal entities in Germany: Bryan Cave Leighton Paisner LLP and Berwin Leighton Paisner (Germany) LLP.