Heuking Kühn Lüer Wojtek assists VIVAWEST in the acquisition of the “Mühlenquartier” property in Düsseldorf

Heuking Kühn Lüer Wojtek assisted VIVAWEST Wohnen GmbH (VIVAWEST), a leading residential property management company with more than 120,000 units, in the acquisition of the “Mühlenquartier” property in Düsseldorf-Benrath. A multidisciplinary team led by Düsseldorf-based partner Dr. Marc Scheunemann advised VIVAWEST comprehensively in the course of the transaction.As part of a share deal, VIVAWEST is taking over Artemis Stadtsanierungsgesellschaft Objekt Benrath mbH & Co KG from its shareholders Convalor Beteiligungs- und Verwaltungs-GmbH, KÖNIGREICH DIREKT Stadtsanierungsgesellschaft mbH, and Artemis Development GmbH.The Düsseldorf-Benrath property of some 31,500 square meters was used as an industrial site until 2004. Following an expert evaluation conducted by the City of Düsseldorf and an extensive dialogue with citizens, the site will be developed into a new urban neighbourhood. It will be built up with four-storey to five-storey buildings with 364 rental units and 302 underground parking spaces. There will also be two large child daycare facilities. About a quarter of the apartments will be publicly subsidized or rented out at reduced prices. The first of the four construction phases is scheduled to start at the end of 2017.

Counsel to VIVAWEST Wohnen GmbH
Heuking Kühn Lüer Wojtek:
Dr. Marc Scheunemann, LL.M (Corporate, Lead),
Dr. Peter Zimmermann (Real Estate),
Stephan Freund (Construction and Architects’ Law),
Dr. Guido Hoffmann, LL.M. (Finance),
Dr. Tilman Spancken (Real Estate),
Dr. Christian Appelbaum (Corporate / Finance),
Dr. Anne-Kathrin Wilts (Public Law),
Dorothee Kirsten Hellebusch (Real Estate), all Düsseldorf
Klaus Weinand-Härer (Tax), Frankfurt