Watson Farley & Williams (“WFW”) advised the Heinrich Vetter Foundation (the “Foundation”) on its sale of a car park in central Mannheim, southwestern Germany, to a subsidiary of Mannheimer Kommunalbeteiligungen GmbH (MKB). The 363-space car park was most recently leased by GKK and sublet to Q-Park.
The Heinrich Vetter Foundation was established in 1997 by the late Mannheim businessman and department stores’ entrepreneur Heinrich Vetter to promote, art, culture, science, faith and sports locally from the rental income generated by its real estate portfolio.
The multidisciplinary WFW Germany team that advised the Foundation was led by Hamburg Corporate and M&A Partner Sebastian Baum, supported by Senior Associate Julia von der Blumensaat and Düsseldorf Associate Josephina Knauf. Hamburg Senior Consultant Klaus Schmid-Burgk advised on insolvency law, with Hamburg Partner Verena Scheibe and Frankfurt Senior Associate Manuel Rustler leading on tax matters.
Sebastian commented: “We are delighted to have successfully completed this transaction for the Foundation, working alongside real estate consultants Centurion Advisors to overcome challenges regarding matters of commercial tenancy, real estate law and insolvency law. This mandate once again underlines WFW’s expertise advising on complex real estate transactions across multiple service lines”.
