3 May 2018
Major French bank BNP Paribas Real Estate purchased the Frankfurt office tower project "99 West" from real estate company Groß & Partner. The international law firm Taylor Wessing advised BNP Paribas Real Estate in French and in English on all legal matters related to the project development, including the corporate set-up, the acquisition, the construction contracts, and public-law framework.
The transaction starts BNP Paribas Real Estate's first development project in the German market. The company has not issued any statements regarding further projects. Over the past few years, French market leader BNP successfully secured major property developments throughout Europe, inter alia by planning and implementing a building complex at Kings Cross in London, as well as another project in Rome.
The property developer of "99 West" conceptualized a high-rise building with roughly 30,000 square meters of gross floor space, as part of the Senckenberg district. The Senckenberg district is located on the Frankfurt Kulturkampus, where an urban mix of apartments, office space, hotels, and restaurants and a 8-story daycare center is being constructed. The construction of "99 West" is scheduled to begin in summer of 2018, and is slated for completion in 2021.
Legal consultant BNP Paribas Real Estate
Taylor Wessing: Lead: Johannes Callet (Partner, Real Estate), Thomas Wisniewski (Partner, M&A), Dr. Patrick Brock (Partner, Real Estate), Jan Pieper (Associate, Real Estate), Marieke Greif (Associate, Real Estate) (all Berlin); Christine Weyand (Salary Partner, Real Estate), Dr. Martin Bartlik (Partner, Hotels & Leisure), Christopher Peine (Senior Associate, Corporate), Olga Radjuk (Senior Associate, Corporate) (all Frankfurt); Dr. Alexander Köpfler (Salary Partner, Environmental, Planning & Regulatory, Düsseldorf)