BLP* advises NIS ARB EDO on its sale of Department Store in Berlin
International law firm Berwin Leighton Paisner* advised NIS ARB EDO, a fund managed by ARB Investment Partners, on the sale of Stilwerk, a Department Store in Berlin, to CBRE Global Investors.
Partner Carsten Bremer, who took the lead on the transaction, had already advised NIS ARB EDO to acquire the department store in 2015. This acquisition was the first time the firm had acted for the Japanese real estate investor.
Berlin-based Real Estate Partner, Carsten Bremer, said: “We are delighted that we were chosen to advice NIS ARB EDO on the sale of stilwerk after working with them on its acquisition before. This transaction highlights again that Berwin Leighton Paisner is a popular choice for international investors when realising their projects in Germany.”
Stilwerk is a furniture and design centre, known throughout Germany, offering more than 800 brands under a single roof, with around 40 designer stores from Bang & Olufsen and Lambert to Vitra, Bechstein and Rolf Benz. The property, with a total rental area of 25,000m2, is situated in Kantstraße, not far from Kurfürstendamm, and includes a design centre which opened in 1999 and an office building originally built by Commerzbank in 1950.
Carsten Bremer was supported on the transaction by Senior Associate Dominik Ernst (Tax, Berlin), along with Associates Dirk Ehleben and Gregor Noack (both Real Estate, Berlin).
*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.