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Heuking advises the City of Frankfurt am Main on leasing LATERAL Towers

A team led by Heuking Partner Dr. Frank Baßler advised the City of Frankfurt am Main on legal and tax matters associated with leasing the “Lateral Towers” from CELLS group.

The city leased the building complex, which comprises some 46,000 square meters, for 30 years to accommodate two new high schools for a total of 3,200 students. Prior to the three-phased opening of the new schools between July 2024 and August 2026, CELLS will perform comprehensive renovation work within the set of buildings.

The “Lateral Towers” complex at Neue Börsenstraße 1 in Frankfurt’s Hausen district consists of eight buildings and was completed in 2001. After initially serving as the headquarters of Deutsche Börse, Commerzbank took over the space in 2013.

On behalf of the city, the negotiations were held by the Department of Education, Real Estate and New Construction, the Office for Construction and Real Estate, and the Municipal Schools Department.

According to CELLS, the lease is this year’s largest agreement of its kind on the German office market to date.

Counsel to the City of Frankfurt am Main

Heuking Kühn Lüer Wojtek:

Dr. Frank Baßler (Lead),

Veronika Straub,

Ivana Djepic (all Real Estate), all Stuttgart,

Bettina Neheider (Public Law), Munich,

Dr. Martin Schellenberg,

Marc Philip Greitens, B.A., LL.B. (both Public Procurement), both Hamburg,

Jörg Michelsen (Tax), Frankfurt a. M.