Berlin-based Real Estate investor LINUS Capital, together with an institutional investor, provides financing to MIKARE Real Estate for its project development Upside Max und Moritz Berlin. LINUS provides additional 88 million euro in financing to cover further construction and planning costs of the development, which is already under construction. Spark Capital GmbH acted as the lead advisor for Mikare in this transaction.
The project is located in the heart of Media Spree in Berlin’s popular district Friedrichshain. The project includes two towers each approximately 90 meters high. The development comprises of ca. 70,000 sqm of residential, office and retail spaces as well as, service apartments. The major component of the development is the construction of about 380 condominiums.
The condominiums of Tower Max are marketed by the well-known Berlin brokerage house Ziegert, which has already sold over 40% of the available units.
The shell construction is already being carried out by Berlin-based construction company Anes. The project is expected to be completed by Q4/2021. In addition, renowned property developer Trockland is joining the development as a project manager.
"We are pleased to be able to participate in this unique landmark development together with renowned partners such as Trockland and Ziegert. This is without doubt one of Berlin's most spectacular property developments at the moment," says LINUS CEO David Neuhoff.
It is already LINUS' third investment in Berlin in 2019. In January, LINUS provided about 15-million-euro mezzanine capital for two property developments in Wilmersdorf and Schöneberg. "Our goal is to invest 200 million euro in real estate projects this year together with our partners. In addition to our home market Berlin, we are also looking at other large cities in the German-speaking region and the Benelux countries, as well as Greater London,” says David Neuhoff.
LINUS was advised by global law firm Greenberg Traurig under the lead of Anika Mitzkait.
Legal advisor to Mikare Real Estate for the transaction was Philippe Kamarowsky of Bryan Cave Leighton Paisner.
LINUS is an innovative investment company that offers institutional investors, as well as experienced investors such as family offices and high net worth individuals access to selected off-market real estate investments. LINUS acts as an anchor investor and secures projects in which registered investors can invest via the online platform www.linus-capital.com.
Mikare Real Estate
Mikare Real Estate is a Berlin-based investment company focused on investments in real estate developments in large European cities. The company sets its mission into developing advantageous investment models while also differentiating local characteristic targets. Mikare’s operational model is based on creating different projects with their own expert team in Europe.
Trockland is a private real estate development and investment company focused on Berlin. Activities include new construction and acquisition of existing assets with the objective of converting or renovating residential and commercial projects and sustainably enhance value. Trockland’s team of nearly 50 dedicated professionals has initiated 15 projects since 2009 culminating in approx. 211,000 square meters lettable space and a total asset volume of approx. €1.5 billion, including those assets currently under development.
Spark Capital is a Berlin based investment manager and advisor for commercial and residential real estate with a long-standing expertise. Spark provides a complete scope of services in underwriting, acquisition, financing, due diligence, asset management and disposal. Spark has a proven track record in working with institutional and private investors, as well as, with listed companies.
Greenberg Traurig is a leading, international corporate law firm with 38 offices worldwide. In Germany, approximately 60 lawyers specialize in advising clients concerning transactions in the sectors property, technology and telecommunications, media and entertainment, and infrastructure.
**Bryan Cave Leighton Paisner **
Bryan Cave Leighton Paisner is a fully integrated global law firm with more than 1,400 lawyers and 32 offices in North America, Europe, the Middle East and Asia. The firm is known for its very active M&A, real estate, financial services, litigation and corporate risk practices. In Germany, Bryan Cave Leighton Paisner serves clients through a team of 15 partners, 3 of counsels, 6 counsels, 6 senior associates and 24 associates
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