Noerr advises Commerz Real on, inter alia, the acquisition of the high-rise development “Mynd” and the “Galeria Weltstadthaus” at Berlin Alexanderplatz

With a team led by its Frankfurt-based partner Tim Behrens, Noerr has advised Commerz Real on its acquisition from SIGNA Prime of 100% of the high-rise development “Mynd” and the “Galeria Weltstadthaus” at Berlin’s Alexanderplatz and the sale to SIGNA Prime of its 20% stake in a total of eight department stores, including three premium “Galeria Weltstadthaus” department stores in Frankfurt (Hauptwache), Dusseldorf (Königsallee 1-9) and Cologne (Hohe Straße).

Commerz Real made the acquisition for its open real estate fund “hausInvest”. Commerz Real had already held a 20% stake in the high-rise development “Mynd” and the “Galeria Weltstadthaus” at Berlin Alexanderplatz.

SIGNA will continue to manage the development of the project at Alexanderplatz in Berlin as Commerz Real’s leading development partner. After completion in the year 2025, the total ensemble is to comprise more than 100,000 square metres of leased spaces, of which around 32,000 of office space will be in the 134-metre high “Mynd” tower currently under construction. The department store will continue to be operated as a “Galeria Weltstadthaus” and will be furnished with a food culture market and a publicly accessible rooftop platform with a view of the Berlin TV tower.

The transaction in Berlin is subject to clearance by the German Federal Cartel Office.

Advisors to Commerz Real: Noerr Partnerschaftsgesellschaft mbB

Lead: Tim Behrens (partner, Real Estate Investment Group, Frankfurt am Main)

Real Estate Investment Group: Volker Bock (partner, Dresden), Valentina Glasa (senior associate), Philipp König (associate, both Frankfurt am Main), Markus Zeibig (counsel, Dresden),

Corporate: Marlies Raschke (partner, Dresden), Evelin Moini (senior associate, Frankfurt am Main)

Antitrust: Fabian Badtke (partner), Johanna Krauskopf (associate, both Frankfurt am Main)

Regulatory: Carsten Bringmann (associated partner, Düsseldorf), Hendrik Schlutt (counsel, Berlin)

Investment law: Martin Haisch (Partner), Benedikt Rippert (senior associate, both Frankfurt am Main)