POELLATH advises Cloud Office Projektgesellschaft mbH on the sale of the residential project Cloud No 7 Boutique Apartments in Berlin

The buyer is Asper Germany Fischerstrasse S.à.r.l., which is acquiring the project for the Aberdeen Standard Pan European Residential Property Fund managed by Aberdeen Standard Investments Deutschland AG. POELLATH provided comprehensive legal advice to Cloud Office Projektgesellschaft mbH in connection with the sale.

The residential project comprises a total of 153 residential units on an approx. 2,790 m² plot in Berlin-Lichtenberg in the Rummelsburg district. A three- to six-story residential building with high-quality, furnished, one and two-bedroom apartments with a total of 4,738 m² of living space is being built on Fischerstrasse in accordance with the KfW Efficiency House 40 standard. The building permit has already been issued; construction has already begun. The first tenants should be able to move in during the third quarter of 2023.

POELLATH provided comprehensive legal advice to Cloud Office Projektgesellschaft mbH within the context of the transaction with the following Berlin-based team:

• Dr. Marcel Guenoub (partner, lead, real estate transactions).
• Lion Sander (senior associate, real estate transactions)