Ashurst Perkins Coie advises HIH Invest on acquisition of the Dreischeibenhaus in Düsseldorf

Ashurst Perkins Coie has advised HIH Invest on the legal and tax aspects of its acquisition of the heritage-listed Dreischeibenhaus in Düsseldorf. The property was acquired together with institutional investors as part of a club deal. The seller is the Schwarz-Schütte family, which will retain an interest in the investment structure.

Completed in 1960 and extensively revitalised in 2014, the Dreischeibenhaus is one of Germany’s best-known office buildings. The landmark property, located in Düsseldorf’s central business district, comprises approximately 32,200 square metres of lettable space, including around 29,800 square metres of office space, and is approximately 96 per cent let. The property also includes restaurant, storage and archive space as well as 276 parking spaces. The Dreischeibenhaus is LEED Gold certified and is intended to be held as a long-term investment.

The Ashurst Perkins Coie team was led by Dr Liane Muschter and included Christopher Jeschor, Calvin Bischoff-Asibey and Ibrahim Ünal from the Real Estate practice, as well as Corporate colleagues Volker Germann, Sara Kreiner, Jan Spiesmacher, Sandra Schmidt and Christoph Bieramperl, led by Jan Krekeler. The Tax team comprised Tino Duttiné, Miriam Staatz and Robin Meier. Further advice was provided by Dr Detmar Loff from the Finance, Funds & Restructuring practice.