Global law firm Dentons advised Singapore Press Holdings (SPH), on the acquisition of a student residence in Bremen. The transaction represents SPH’s entry into the German market and will expand its existing student housing portfolio. The seller of the property is Liberty Living.
The freehold asset, named Galileo Residenz, comprises 284 beds and is located on the University of Bremen campus, which has a student population of over 19,000. The Bremen Technology Park, which includes over 500 companies, is within walking distance of the property. Galileo Residenz has had near-full occupancy over the past nine years.
Host, a leading provider of student housing in the UK with more than 20 years of market experience, will be responsible for the management of the property.
Singapore Press Holdings is a listed media company based in Singapore that invests in selected real estate investments in addition to its numerous investments in print, radio and digital media. The company employs around 4,000 people. With the acquisition in Bremen, SPH expands its portfolio of student apartments to a total of 5,343 beds in 11 cities in the UK and Germany.
A Dentons team, led by partner Sebastian Schmid, advised SPH comprehensively on the transaction and the management contract with Host. Schmid regularly advises clients on acquisitions of student hostels in Germany. This was the first time Dentons acted on behalf of SPH.
Advisors Singapore Press Holdings:
Dentons (Berlin): Sebastian Schmid (Partner), Dr. Marius Hommer (Senior Associate, both lead), Laura Appell (Senior Associate), Dr. Michael Bayliss (Associate, all Real Estate), Dr. Esther Brzezinski (Senior Associate, Employment)
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