Luther advises Papenburg on sale of senior living project in Halle (Saale)

As part of the forward deal, Saalesparkasse is acquiring a building plot on Hallorenring in Halle an der Saale from GP Papenburg Hochbau GmbH with a size of 3,315 m² on which an energy-efficient 5-storey residential building with approx. 92 flats together with outdoor facilities and 19 parking spaces including the traffic areas for the operation of a senior citizens' residential complex is to be built. The building permit has already been granted.

The realisation of the building project will be carried out by the seller himself as general contractor. After completion, the residential building will be used by ProCurand as an experienced operator of senior housing facilities. A corresponding long-term lease agreement was already concluded last year.

Papenburg relied on the "well-rehearsed" Leipzig Luther team of Dr. Thomas Gohrke and Patrick Gocht for the project development and sale.

On behalf of GP Papenburg Hochbau GmbH:

Luther: Dr Thomas Gohrke (Partner, Leipzig), Patrick Gocht (Senior Associate, Leipzig)