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Global law firm Greenberg Traurig advised Castlelake and Kauri CAB on the development of Carossa, a holistic 100,000-square-meter quarter in the historic precinct designed by renowned architect Hans Hertlein in Berlin’s Spandau Hakenfelde district. Kauri CAB is a Berlin-based investor specializing in the acquisition, development, and management of city quarters. To develop the Carossa Quarter, Kauri CAB partnered with PATRIZIA, an investment manager in the real estate market across Europe for more than 35 years.
PATRIZIA replaces private investment firm Castlelake as controlling shareholder with the acquisition of a 90 percent stake on behalf of its institutional clients. Kauri CAB remains minority shareholder with a 10 percent stake and will act as asset management and development partner under the sale agreement.