IMAP has successfully advised on the Telekom-Kaskaden transaction at the TZ Rhein Main technology centre in Darmstadt. GE9e Development Darmstadt GmbH, Telekom-Kaskaden’s property company, was sold to a German investor as part of a share deal.
Planning and construction of the building with a total lettable area of approximately 23,000 square metres and 400 parking spaces, took place under the management of unit Gesellschaft für Projektentwicklung mbH, Darmstadt. The entire building is rented by Deutsche Telekom AG and designed according to their specifications. As part of Telekom's new nationwide location concept, this pilot project is the first project within Telekom to implement "innovative, forward-looking office worlds" at the Darmstadt location.
"The successful implementation of this ambitious new building was a major challenge that we were happy to meet", commented Horst Hadergasser, Managing Director of unit Gesellschaft für Projektentwicklung mbH, when the property was handed over on schedule after only 18 months of construction.
The legal advice on the transaction was provided by SZA Schilling, Zutt & Anschütz Rechtsanwalts AG for the buyers and Rittershaus Rechtsanwälte for the sellers. The tax advice on the share deal was accompanied by EY on the buyer's side and by Falk & Co on the seller's side.
IMAP structured the transaction and financing and managed the investor proces