Approved the sale of property ‘Am Wehrhahn 1’ in Düsseldorf: the advisors

The city of Düsseldorf has acquired the 8,440 square-meter site at Wehrhahn 1 in the city center and intends to build an opera house there. Six months after the seller company filed for insolvency, the company’s creditors have approved the sale last 23 July.

Wehrhahn 1 Immobilien GmbH & Co. KG filed for insolvency at the Berlin Charlottenburg District Court January 18. Insolvency administrator Torsten Martini from the law firm GÖRG then initiated a structured sales process in which the city of Düsseldorf prevailed over other bidders. Built in 1967 and modernized in 2000, the building is approximately 65,000 square meters and has six floors, 441 parking spaces, a bicycle center, and a parking lot operator as the main tenants. The parties have agreed not to disclose the purchase price or any further details.

Advisors on the deal were lawyers Dr. Peter Schorling (PICTURED), Dr. Daniel Benighaus, Claudia Stremel, Irina zu Stolberg, Florian Blaschko from Greenberg Traurig office in Berlin.