BLP advises Aurec on acquisition of EY’s largest office in Germany
International law firm Berwin Leighton Paisner advised Aurec leading a consortium of Israeli institutional investors on the acquisition of Eschborn Plaza in the Frankfurt area from two closed-ended funds managed by Commerz Real for €236m by way of an asset deal. The main tenant of the prime office complex is Ernst & Young, the company’s largest office in Germany.
NATIXIS Pfandbriefbank AG arranged a €157m mortgage for the acquisition.
Completed in 2005, Eschborn Plaza offers approximately 42,000sqm of office space, more than 1,200 underground parking spaces and a pavilion with a restaurant. The complex is located in the Eschborn area, northwest of Frankfurt, with excellent access to the autobahn and public transport.
“The acquisition of this landmark building is part of Aurec’s and its partners strategy to extend their portfolio in Germany”, said Amir Ramot, Managing Director at Aurec Asset Management.
“We would also like to thank Berwin Leighton Paisner for their comprehensive legal advice. After working together on the acquisition of the headquarters of Gothaer Insurance in Cologne, we were looking forward to realise this project with BLP.”
Aurec Asset Management is the property investment arm of Aurec Capital. Aurec Capital is an entrepreneurial single family office headquartered in Israel with overseas offices in New York and Berlin.
A team led by Hanns-William Mülsch advised Aurec on Real Estate, Tax, Public and Financing matters. Hanns-William Mülsch was supported by the Frankfurt Partners Philippe Kamarowsky (Finance), Stephan Krampe (Tax), Boris Strauch (Public) and Berlin Counsel Adriana zur Nedden (Finance).