McDermott advises SIGNA on the sale of a stake in the Elbtower to hausInvest
Düsseldorf, August 24, 2022 – McDermott Will & Emery has advised SIGNA Real Estate on the sale of a 25% stake in the high-rise development “Elbtower” in Hamburg’s HafenCity to CommerzReal’s open-end real estate fund “hausInvest”.
Construction of the mixed-use high-rise at Elbbrücken, designed by David Chipperfield Architects, is scheduled to start in 2023, with completion expected by the end of 2025. Even before the official start of construction and three years before completion, the pre-lease rate for office spaces already exceeds 30%, and international lifestyle brand Nobu Hospitality has already been confirmed as the hotel operator. Excavation of the site is currently in progress.
Advisor SIGNA: McDermott Will & Emery (Lead Counsel): Dr. Jens Ortmanns (Partner, Real Estate, Düsseldorf), Sebastian von Lossow (Lead Partner, Corporate, Düsseldorf), Dr. Oliver Lieth (Partner, Real Estate Finance, Düsseldorf), Christian Krohs (Partner, Antitrust, Düsseldorf), Dr. Jessica Hanke (Partner, Real Estate, Düsseldorf), Frank Müller (Partner, Investment Law, Frankfurt am Main), Carina Kant (Counsel, Antitrust, Düsseldorf), Sebastian Klein (Associate, Corporate, Düsseldorf), Thomas Claeßens (Associate, Real Estate, Cologne), Markus Hunkenschröder (Associate, Real Estate Finance, Düsseldorf)
SIGNA Inhouse: Georg Reuter (Head of Legal) and Dr. Niels Lüking (Head of Tax and Financial Advisory Germany)
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