Goodwin Procter LLP advised CORESTATE Capital Group in the acquisition.
The Frankfurt Real Estate Industry team advised CORESTATE Capital Group on the acquisition of Tempelhof Twins in Berlin, a first-class value-added office property with a total investment volume of around €86 million. The transaction will be structured as a joint venture between Metropolitan Real Estate, the global real estate multi-manager arm of the Carlyle Group, and a fund of the Bluerock Group.
The office building located in the Tempelhof commercial district has a total rentable area of around 22,300 sqm with nearly 270 parking spaces. The current occupancy rate is 80 percent.
CORESTATE is a leading investment manager and co-investor over €26 billion in assets under management. Since the beginning of 2018 the company has acquired around €500 million of value-add properties in the German-speaking countries. CORESTATE employs more than 700 people at its headquarters in Luxembourg as well as in Frankfurt, London, Madrid, Singapore and Zurich, and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange.
The Goodwin team was led by Marc Bohne (Picture) and Christopher Jeschor (Real Estate Industry) and included Martin Prokoph (Private Equity) Heiko Penndorf and Felix Krueger (Tax), Andreas Mallin (Finance), Matthias Ruedt von Collenberg and Nicole Schlink (Real Estate Industry), Christina Papadimitriou (Private Equity) and Kira Müller (Finance).
Involved fees earner: Marc Bohne – Goodwin Procter; Christopher Jeschor – Goodwin Procter; Felix Krueger – Goodwin Procter; Andreas Mallin – Goodwin Procter; Kira Müller – Goodwin Procter; Christina Papadimitriou – Goodwin Procter; Heiko Penndorf – Goodwin Procter; Martin Prokoph – Goodwin Procter; Matthias Rüdt von Collenberg – Goodwin Procter;
Law Firms: Goodwin Procter;