Ashurst advised all institutional sellers on the disposal of open-ended real estate funds special fund (AIF) BEOS Corporate Real Estate Germany I to Helaba Invest Kapitalverwaltungsgesellschaft mbH. The specialty funds currently holds 21 commercial properties all over Germany for institutional investors. In the course of the transaction the fund shares were transferred instead of the properties (Anteilscheingeschäft). The purchase price amounted to more than € 500 million.
IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH will continue to be the servicer for the fund, BEOS will remain the asset manager for the portfolio properties with a total of 919,000 sqm ground and approximately 565.000 sqm rental space. The portfolio consists of mixed-use commercial properties in established German premium locations and growth regions.
The Ashurst team was led by partners Dr Liane Muschter (Real Estate), Jan Krekeler (Corporate/M&A) and Dr Detmar Loff (Regulatory). Partner Derk Opitz (Finance, funds & restructuring) advised on financing aspects. They were supported by associates Anna-Maria Krekeler, Joanna Wilcynska-Gluch (both Corporate/M&A), Sven Nickel (Real Estate), Thamar Wallus and Christoph Klessing (Regulatory) as well as paralegals Daniel Weimann (Real Estate) and Kathrin Meier (Corporate/M&A). Tax advice was provided by partner Dr Martin Bünning and associate Carina Park (all Frankfurt).
