Global law firm Clifford Chance has advised Instone Real Estate (“Instone”), one of Germany’s leading residential developers, on the establishment of a strategic joint venture with Ginkgo Fund, a recognised European investment fund specialising in brownfield regeneration and urban renewal projects. The joint venture will collaborate on the development of the “Benrather Gärten” project in Düsseldorf.
The former industrial site, covering around 15 hectares in the south of Düsseldorf, will be developed into a sustainable urban quarter comprising 800 to 1,000 apartments, social infrastructure, commercial and office space, as well as public and private green areas. Clifford Chance advised on the joint venture and development agreement.
The Clifford Chance team was led by partner Dennis Blechinger and further comprised counsel Martin Barlösius (both Real Estate, Munich), partners Olaf Mertgen (Tax) and Kristina Jaeger (Real Estate, both Frankfurt), senior associate Sabrina Tenebruso, associates Laura Spohn (both Frankfurt) and Miriam Sax (Munich, all Real Estate), partner Mark Aschenbrenner (Munich) and associate Friederike Anna Fisch (Frankfurt, both Corporate/Private Equity) as well as counsel Steffen Waadt (Tax, Frankfurt).
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