May 16, 2017

Historical Mendelssohn-Palais at the Gendarmenmarkt sold successfully

New owner of the historic Berlin Mendelssohn-Palais in the Jägerstraße is the HGHI Holding GmbH. In the course of the multi-stage bidding process a large number of potential buyers from Germany and abroad carried out their due diligence and placed bids for the historical building close to the Gendarmenmarkt. The transaction process and transaction itself were structured, prepared and implemented by the BÜRO DR. VOGEL GMBH on behalf of the ABDA - Federal Union of German Associations of Pharmacists. Legal support was provided by Raue LLP from Berlin.

In 2001, the ABDA acquired the Mendelssohn-Palais, built between 1891 and 1893, from Deutsche Handelsbank. Until 1938, the Palais served as headquarter of the private bank Bankhaus Mendelssohn & Co. In the early 1990s, Deutsche Handelsbank had spared no expense to restore the Mendelssohn-Palais to its original state. Through these efforts the historic rooms such as the former counter hall and the wood paneled directorial area are still preserved today. "The sale of a building like the Mendelssohn-Palais is something extraordinary. Such objects with so much history, originality, unique details and valuable building substance from the late 19th century are only available to the private real estate market every few decades," says Dr. Markus Vogel, managing director of the BÜRO DR. VOGEL GMBH.

Further Information (German):

Der Tagesspiegel: Mendelssohn-Palais in Mitte - Geldadel verpflichtet