Cloud No 7 sells hotel in Stuttgart with Heuking Kühn Lüer Wojtek
January, 2018 - Duesseldorf, Germany
A team led by Dr. Anne de Boer assisted Cloud No 7 group, a member of Schwäbische Wohnungs AG, in the sale of Cloud No 7’s hotel in Stuttgart to KanAM’s Fokus Süddeutschland fund, replacing the existing financing.
Cloud No 7 is a high-rise with luxury residences, business apartments, and a hotel in Stuttgart’s Europaviertel area. The hotel will be the first Jaz Hotel that will be part of Steigenberger group. Dr. Anne de Boer and Dr. Peter Zimmermann comprehensively legally advised on and coordinated the project consisting of the hotel sale, the financing replacement, the handover to Jaz/Steigenberger, and other legal issues in connection with the project. Cloud No 7 was originally financed by a publicly placed project development loan and the sale of the residences. The hotel was additionally refinanced by means of a borrower's note loan of a German pension fund, which was repaid prematurely in full with the sale.
A team led by Dr. Anne de Boer had already accompanied Cloud No 7 in the various financing transactions.
Counsel to Cloud No 7 Group
Heuking Kühn Lüer Wojtek:
Dr. Anne de Boer (Lead, Finance),
Dr. Peter Zimmermann (Real Estate and Tenancy Law),
Fabian G. Gaffron (Tax)
