BINDER GRÖSSWANG, in cooperation with Allen & Overy, advised the Luxembourg-based real estate investor CORESTATE Capital Holding S.A on the acquisition of the third “TrIIIple” tower, to be built on the site of the former central customs office. The transaction was made as a forward purchase.

Submission of the application for a building permit for the third tower is planned for the end of 2017 and construction is scheduled to be completed in 2020. After completion, Tower 3 will comprise 670 micro-apartments for students and young professionals, as well as office and commercial space. With 34 upper floors, the building will be the highest of the three TrIIIple towers. The planned one-room and two-room apartments, each equipped with a bathroom and kitchenette, will range between 22 and 55 square metres in size and some of them will have private balconies. The building will also include communal areas such as learning, gaming, business and laundry lounges as well as terraces for shared use by the tenants.

CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager und co-investor with managed assets of ca. €20 billion. Operating as a fully integrated real estate platform, CORESTATE offers its customers sound expertise in the fields of investment and fund management as well as real estate management from a single source. The company, which is listed on the Frankfurt Stock Exchange (Scale), operates internationally as a respected business partner for institutional investors as well as wealthy private investors. In addition to its headquarters in Luxembourg, CORESTATE has 29 offices in locations such as Frankfurt, London, Madrid, Singapore and Zurich and employs more than 470 persons.

The BINDER GRÖSSWANG team for the transaction comprised Markus Uitz (partner, Real Estate / M&A), Alexander Kramer (counsel, Real Estate) and Michael Delitz (associate, Real Estate / M&A).

Allen & Overy in Düsseldorf was in charge of structuring for CORESTATE Capital Holding S.A. Allen & Overy’s core team was composed of partner Christian Eichner, counsel Michael Fink and senior associate Kyrill Chilevych. ständig, federführend durch den Partner Christian Eichner, den Counsel Michael Fink sowie den Senior Associate Kyrill Chilevych.