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Baker Tilly has provided legal and tax advice to HIH Invest Real Estate (HIH Invest) on the sale of the Bochum Kortumhaus to Stuttgart-based Wohninvest Holding. HIH Invest last held the warehouse in the portfolio of a closed-end special fund.
Baker Tilly's services focused on the legal and tax due diligence as well as the contractual execution of the sale. The responsible Baker Tilly partners were Michael Mehler and Dr. Hendrik Theismann (both Legal) as well as Andreas Griesbach (Tax). Manager Hale von Metzler and Manager Sebastian Scholze (both Legal) were also involved.
The six-story Kortum department store is a traditional department store in the center of Bochum. Built between 1914 and 1921, it has been a landmark building since 1996. With a total of 17,511 m² of leasable space, the building now offers one of the largest office and retail spaces in Bochum following war damage, repair, conversion and, most recently, complete refurbishment.
For more information on HIH Invest Real Estate, please click here.