Wednesday, 23 November 2016

6B47, with legal advise from Orth Kluth, sells residential real estate project „CASCADA“ in Frankfurts Europaviertel

6B47 Real Estate Investors Germany GmbH sells the project „CASCADA“ to Munich based developing and promoting company Bauwerk Capital and to developer Red Square.

The project „CASCADA“ is a high rise residential project, for which 6B47 group and lawfirm Orth Kluth provided the necessary legal permits under local planning and construction law. The estate is located in Frankfurts aspiring Europaviertel. The project company previsously had been purchased in 2015 by 6B47 Gruppe via the german subsidiary, 6B47 Germany GmbH, from a local group of investors.

Once the construction permit was granted, purchase as well as resale of the shares in the existing project companies were implemented on the same day. This made the transaction process more complicated than usual. Orth Kluth took over to structure the planning and construction law tasks of the project as well as the resale and the coordination between initial vendors and financing banks.

The parties did not disclose the transaction volume.