Verdict announced on the action for eviction from the Ku’damm Theatres

In light of today's ruling by the Berlin Regional Court regarding the action for eviction taken against the Theater und Komödie am Kurfürstendamm, Norman Schaaf, the Managing Director of CELLS Bauwelt GmbH, had the following to say:

"At the end of 2014, CELLS Bauwelt GmbH was appointed as the project developer for the Ku'damm Karree by the company Mars Propco 1 S.a.r.l, based in Luxembourg.

The Ku'damm Karree will be revitalised by means of comprehensive construction and renovation work based on designs by the renowned architect Prof. Jan Kleihues and developed into an urban, mixed-use quarter. Needless to say, its attractiveness will also be boosted by cultural amenities, along with shopping, workplaces and restaurants. A theatre company will therefore continue to be a part of the Ku'damm Karree well into the future.

Mars Propco 1 S.a.r.l is a company which was effectively founded under the laws of Luxembourg. We have furnished the court with the requested documentation regarding the founding of the Luxembourg-based company Mars Propco 1 S.a.r.l. Today's decision demonstrates that the court recognises this company's capacity to be a party to legal proceedings. For us, this was a purely formal act."

About the companies:

Mars Propco 1 S.a.r.l, based in Luxembourg, is the owner of the site upon which the so-called Ku'damm Karree is built. The owner plans to sustainably renovate and redevelop the building, helping this lucrative location to become even more attractive.

The CELLS Group, consisting of CELLS Bauwelt GmbH and CELLS Property Investors GmbH, has over 20 years of experience in the development, execution and management of residential and commercial properties both at home and abroad.

CELLS Bauwelt GmbH is responsible for the core business areas of project development and execution. Whereas CELLS Property Investors GmbH covers the fields of asset and property management.

An experienced team, made up of over 60 employees at our Munich and Berlin offices, ensures the consistently high quality and sustainability of our real estate portfolio. Our exemplary operational strength and reliability are what make the CELLS Group one of the most widely respected and renowned business partners for tenants, service providers, private investors, family offices and institutional investors. Ever since its founding, the CELLS Group has implemented projects with a total volume of over €1.8 billion.

Contact person for queries:

Kay Daniel Zareh
Head of Marketing & Communication

Kurfürstendamm 207-208
10719 Berlin
Tel: +49 (0) 30 / 555 78 03 - 0
Fax: +49 (0) 30 / 555 78 03 - 91