Gleiss Lutz advises City of Düsseldorf on purchase of property for Opera House of the Future project

Gleiss Lutz has advised the City of Düsseldorf on its purchase of around 9,000 m² property in a central Düsseldorf location. The property is to be purchased from the insolvency estate of a Signa real estate management company . The parties have agreed not to disclose the purchase price. The property hosts a department store (former branch of Galeria), but only the ground floor is currently used for retail. The City of Düsseldorf plans to use the property to build its Opera House of the Future.

The following Gleiss Lutz team advised the City of Düsseldorf: Dr. Jacob von Andreae (partner), Dr. Lars Kindler (counsel, both Public Law, Düsseldorf), Dr. Jonas Rybarz (of counsel, Real Estate, Berlin), Dr. Alexander Nagel (counsel, Restructuring, Düsseldorf, joint lead), Dr. Ulrich Soltész (partner, State Aid and Unfair Competition, Brussels), Dr. Johann Wagner (partner), Dr. Hendrik Marchal (counsel, both Hamburg), Dr. Hanna Datzer (Düsseldorf, all Tax), Dr. Nena Husemann (Public Business Law, Düsseldorf).  

The transaction was handled in-house by Ariane Künster, Ulrike Bell-Kirchhof and Dr. Kristina Neven-Daroussis.