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    Ashurst advises STRABAG Hold Estate on the acquisition of the office building "The Move Blue" from Siemens

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    Ashurst has advised STRABAG Hold Estate on the acquisition of the office building "The Move Blue" in "Gateway Gardens" from Siemens Real Estate. This significant sale-and-leaseback transaction, one of the largest in Frankfurt in 2024, encompasses a rental area of approximately 24,400 square meters and was brokered by CBRE and BNP Paribas Real Estate.

    The building "The Move Blue" is part of the "The Move" ensemble. Siemens moved into its Frankfurt branch with around 1,000 employees in 2023 and signed a 15-year lease agreement. The transaction volume has been kept confidential.

    STRABAG Hold Estate, responsible for building a property portfolio for its parent company STRABAG SE, is taking an important strategic step to expand its real estate portfolio with this acquisition. "The Move Blue" offers a stable and attractive investment due to its central location and long-term lease agreement.

    STRABAG Hold Estate is part of STRABAG SE and specializes in building and managing an extensive property portfolio. The acquisition of "The Move Blue" strengthens its presence in the Frankfurt real estate market and secures long-term revenues through stable rental relationships.

    The Ashurst team was led by partner Dr Liane Muschter. She was supported by Counsel Christopher Jeschor, Associate Achim Weimer, and Transaction Lawyer Ibrahim Ünal (all Real Estate, all Frankfurt), by Associate Andreas Hofmann (Tax, Frankfurt), by Counsel Maria Held (Antitrust, Munich), and by Partner Roman Brtka (IP, Munich).