German Team advises IMAXXAM on acquisition of new office building West Side Spark in Bonn

Global law firm Norton Rose Fulbright has advised the German asset management company IMAXXAM on the acquisition of the newly constructed office building "West Side Spark" in Bonn for the fund "Geno Rheinland Real Estate (GRRE)".

Completed in January 2024, the property on Václav-Havel-Platz in Bonn has a total rental area of 9,556 square metres and meets the latest standards for office and commercial use. It is also characterised by DGNB Gold certification and compliance with the CRREM pathway until 2046. Specifically, it comprises 7,949 square metres of office space, 584 square metres of retail space and 1,023 square metres for storage and other uses. The building also offers a total of 291 car parking spaces and 292 bicycle parking spaces. The main tenant of the building is a state institution.

IMAXXAM Asset Management GmbH, based in Frankfurt am Main and Giessen, is an investment boutique for institutional investors with more than 25 years of experience in the real estate market. The company sets up real estate funds for well-known investors and provides extended services ranging from transactions, portfolio and asset management to property management.

The Bonn property was acquired by IMAXXAM in an asset deal from Swiss Life Asset Managers, which developed the building.

Norton Rose Fulbright advised IMAXXAM comprehensively on the negotiation of the purchase agreement as well as on the legal and tax due diligence aspects of the transaction. The team was led by Dr Maren Stölting (partner, Munich, Co-Head of Real Estate EMEA) and Dr Riccardo Marinello (Counsel, Frankfurt, Real Estate).

The team also consisted of Tino Duttiné (partner, Frankfurt, Tax Law), Dr Ralf Koschmieder (Counsel, Frankfurt, Tax Law), Julia Gallinger (Senior Tax Associate, Hamburg), Philipp Fricke (Associate, Frankfurt, Tax Law), Prof. Dr Claus Pegatzky (Counsel, Frankfurt, Public Commercial Law), Bernd Schneider (Counsel, Hamburg, Construction Law) and Tankred Freiberger (Senior Associate, Munich, Real Estate).