GSK Stockmann Advises neuplan and Competo Capital Partners on Lease to Penguin Random House

GSK Stockmann, together with E&G Real Estate GmbH, advised a joint venture formed by neuplan GmbH and Competo Capital Partners GmbH, while Cushman & Wakefield GmbH and SEQOR Huber Hamm & Partner Rechtsanwälte mbB acted for tenant Penguin Random House. The matter concerned the partial letting of the new SUN office building in the Berg am Laim district of Munich. GSK Stockmann advised the joint venture on the transaction and in particular on the conception of the lease, which runs for a term of ten years. The tenant is the Bertelsmann-owned publishing group Penguin Random House. Penguin Random House, headquartered in New York and the world's largest book publisher, will rent a total of 12,000 square metres in the planned sustainability flagship project SUN for a ten-year term commencing in 2028. The property at Levelingstraße 10–18 is already 50 percent pre-let. The five-storey building meets high standards for sustainability, health and digital infrastructure and has been awarded DGNB Platinum, WELL Gold and WiredScore Platinum certifications. GSK Stockmann represented neuplan GmbH and Competo Capital Partners GmbH with a team composed by: Stefan J. Schlapka, LL.M. (lead, Real Estate Asset Management), Dr. Mechtild-Maria Siebke (Financing), Stephan Wachsmuth (Tax) and Sebastian Gerhards (Tax). E&G Real Estate GmbH represented neuplan GmbH and Competo Capital Partners GmbH. Cushman & Wakefield GmbH and SEQOR Huber Hamm & Partner Rechtsanwälte mbB represented tenant Penguin Random House.

GSK Stockmann Advises neuplan and Competo Capital Partners on Lease to Penguin Random House

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