Mayer Brown is advising Art-Invest Real Estate on the acquisition of the residential real estate portfolio ELEMENT CORE LIVING, which consists of four properties in Hanover, Braunschweig, Dietzenbach and Dortmund. The seller is the open-ended mutual real estate fund FOKUS WOHNEN DEUTSCHLAND, which is managed by INDUSTRIA Immobilien GmbH and administered by the service KVG INTREAL. The properties have a total rental area of around 32,000 square meters and 384 parking spaces. The total of 318 residential units and five commercial units were acquired for an institutional investor with a long-term holding intention.
The team is led by Dr. Fabian Hartwich (Partner, Frankfurt, Real Estate) and includes: Dr. Philipp Schaefer (Partner, Frankfurt, Real Estate), Volker Junge (Partner, Frankfurt, Tax), Dr. Jürgen Streng (Counsel, Düsseldorf, Real Estate), Susan Günther (Counsel, Frankfurt, Tax), Maik Lammers (Associate, Düsseldorf, Real Estate), Duc Hieu Le (Associate, Frankfurt, Real Estate), Kai Yan (Senior Associate, Frankfurt, Tax).