Goodwin’s Frankfurt office advised Godewind Immobilien AG on the acquisition of a Kirchheim-based office property "Sunsquare" from publity AG by ways of an asset deal. The transaction volume amounts to €30.5 million. The closing is expected by the end of 2018.
The main tenant of "Sunsquare", which comprises roughly 18,000 square meters of rental space, is NetApp Deutschland GmbH. The commercial property includes 226 outside parking spaces and 155 underground parking spaces; it also has an expansion reserve of around 15,500 square meters.
"Sunsquare" is the third property that Godewind Immobilien AG, a specialist in German commercial real estate, has recently acquired. The company made its first commercial property acquisition in mid-October when it acquired two office properties with a total rental space of 29,300 square meters in Frankfurt and at Düsseldorf Airport for €73.5 million.