Noerr advises Wohnen in Dresden GmbH on acquisition of 1,213 flats from Vonovia Group

 

A team from Noerr led by our partners Jens Gehlich and Christoph Brenzinger has represented the City of Dresden’s housing company “Wohnen in Dresden GmbH & Co. KG” (WiD) in many areas of law involved in the acquisition of a portfolio of 1,213 flats from the Vonovia Group.

The background of the advice from Noerr on public procurement, real estate, tax, subsidy and financing law is a cooperation agreement from April 2022 between the City of Dresden and Vonovia in regard to three key issues: joint neighbourhood development, a collaboration on climate strategy and the city’s purchase of flats from Vonovia’s residential portfolio. The recently completed acquisition of the flats in the districts of Neustadt and Prohlis is an important milestone on the way to WiD’s declared goal to secure long-term but also affordable flats for the people of Dresden. As part of the agreement Vonovia also sold undeveloped sites in Dresden with a total area of around 12 hectares, where up to 1,800 flats may be built in the future, to the city. The price of this comprehensive package totals €87.8 million.

The flats are due for handover to WiD in the first quarter of 2024. The completion of the purchase still requires the approval of the Dresden City Council.

Advisors to Wohnen in Dresden GmbH & Co. KG (WiD): Noerr Partnerschaftsgesellschaft mbB

Team Lead:
Jens Gehlich, Christoph Brenzinger

M&A/Corporate:
Hans Martin Kenschke, Zora Schaub

Real Estate:
Henrik Dornscheidt, Raphaël Hebecker, Anna-Lena Heilker, Fabienne Wendik

Tax & Private Clients:
Michaela Engel, Peter Scheuch, Paul Gurr, Eric Epler, Antonia Rondón Díaz

Regulatory, Governmental Affairs & Investment Controls:
Robert Matthes, Ines Mittermeier

Data Protection:
Julian von Lucius, Theresa Huber

Banking & Finance:
Thorsten Wehrhahn

Antitrust & Competition:
Sarah Blazek, Jochen Hegener, Lucas Gasser, Sebastian Waldmann

Employment & Pensions:
Yannick Bähr