Clifford Chance advises PATRIZIA on investment in Carossa Quartier in Berlin

International law firm Clifford Chance has advised PATRIZIA on its investment in Carossa Quartier in Berlin’s Spandau district. PATRIZIA is participating in the new residential project development as a majority investor on behalf of its institutional clients. On completion in 2025, the 125,000 square metre project comprising 1,800 residential units is expected to have a gross development value of around 750 million Euro.

PATRIZIA acquired the majority stake from a fund managed by Castlelake. Kauri CAB, a specialist in the acquisition, development and management of urban neighbourhoods, remains invested with a minority stake and will act as a partner in the development.

The Clifford Chance team was led by partners Jan Grabbe and Dominik Engl and comprised counsel Andrius Bielinis and transaction lawyer Leonie Gebauer (all Tax, Frankfurt); partner Fabian Böhm (Real Estate, Frankfurt); partner Geoffrey Scardoni (Tax, Luxembourg); partner Christian Kremer, counsel Sascha Nolte and associate Olivier Caudron Van Wauwe (all Corporate, Luxembourg) as well as partner Dimitri Slobodenjuk and senior associate Anne Filzmoser (both Antitrust, Düsseldorf). Berlin-based law firm Sammler Usinger advised on real estate aspects of the transaction.