Gewa Tower

Gewa Tower

GEWA 5 to 1, a project company established for the construction of the Gewa Tower, had to
file for insolvency during the construction of the structural shell. When completed, the 107-
metre-high tower was to be the third highest residential block in Germany. The company had
issued an SME bond to finance the project. After considerable negotiation with various
investors, the PLUTA insolvency law experts were able to find a solution for the Gewa
Tower. The CG Group, with operations throughout Germany, has acquired the tower near
Stuttgart. Instead of the originally planned owner-occupied flats, compact rental apartments
are now being created on a floor space of approx. 10,500 square metres. This is not only a
good solution for the tight rental market, but also for the bondholders, who will receive a
higher-than-average recovery rate.