Ashurst advised the leading global private equity group, EQT on the acquisition and financing of TechnologiePark Köln (TPK), an office park located in the German city of Cologne. EQT acquired TPK for a purchase price of €188 million out of Narat GmbH's insolvency.
The 116,155 square metre park, located in western Cologne, comprises seven different office buildings each with an element of parking.
The Ashurst team was led by finance partner Derk Opitz and real estate counsel Nicolas Deuerling. They were assisted by counsel Dr Endrik Kramski and the associates Juliane Deveci and Torsten Limberg (all finance) as well as by the associates Sven Nickel, Daniela Kowalsky and Felix Bergfort (all real estate, all Frankfurt). Partner Heiko Penndorf advised on tax, Munich-based partner Ute Zinsmeister and senior associate Dr Maria Held on antitrust matters.
Derk Opitz commented:
"We are delighted to work with EQT on their first investment in the German real estate market. With our multi-practice team we were able to advise on all legal aspects of this important purchase and its financing. This is an exciting follow up to us acting for EQT on the acquisition of Le Doublon, an office project in Courbevoie, Western Paris."
Stockholm-headquartered EQT has approximately €30 billion in raised capital, the portfolio comprising companies in Europe, Asia and the US with total sales of more than €15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
