Ashurst advises ABG Capital on acquisition of SKY Eschborn office complex
07 September 2022
07 September 2022
Ashurst advised investment manager ABG Capital on the acquisition and financing of the office property SKY Eschborn from Frankfurt-based project developer Cilon, on behalf of a club of institutional investors. The total investment volume is approximately €113m.
Located at Frankfurter Strasse 60-68 in Eschborn-South, the twelve-storey ultramodern building SKY features a rental area of approximately 19,800 sqm, including around 19,000 sqm of office space and around 600 sqm of restaurants. The property is fully let under long-term leases and home to several renowned, internationally active businesses with Hyundai Mobis as a main tenant. The property offers 325 outside and underground parking spaces, including 16 charging points for electric vehicles. Built in 1988, the property was extensively revitalised to new-build quality in 2021/22 and has been certified “very good” by BREEAM. Eschborn-South is one of the strongest real estate sub-markets in the Frankfurt metropolitan region and is distinguished by a highly dynamic development.
The Ashurst team was led by partner Dr Liane Muschter. She was assisted by senior associate Christopher Jeschor as well as associates Raphaela Schmidt and Carolin Siebeck (all Real Estate). Partner Prof Dr Florian Drinhausen, counsel Astrid Keinath and associate Dr Konstantin Filbinger advised on corporate law. Advice on tax law aspects was provided by partner Dr Anders Kraft, senior associate Dr Susanne Knoch, associates Steffen Bellmann and Andreas Hofmann and at our Luxembourg office by partner Georges Simon as well as associate Alexia André. Partners Derk Opitz and Filip Kurkowski, senior associate Dr Jan Ulrich Heinemann and associate Patrick Rauch advised on financing aspects, antitrust advice was provided by counsel Dr Maria Held. On regulatory aspects partner Dr Detmar Loff, senior associate Ilka Breuer and associate Cornelius Hille were involved.