Press Release
Total Page:16
File Type:pdf, Size:1020Kb
Press Release FPS advises IVG Immobilien AG on acquisition of the Silver Tower (Silberturm) building from Commerzbank FPS Rechtsanwälte & Notare advised a consortium of investors led by IVG Immobilien AG with the acquisition of the Silver Tower property in Frankfurt am Main from Commerzbank AG. The property involved in the transaction comprises the building complex of Jürgen-Ponto-Platz 1 (Silver Tower) and the building immediately adjacent, Gallusanlage 8. A confidentiality agreement has been signed between both parties regarding details of the purchase agreement. FPS legally counseled IVG Immobilien AG in regard to the complex and interdisciplinary transaction. This included legally assessing the individual buildings, structuring the purchasing entities involving tax, corporate and investment issues as well as the acquisition negotiations. Together with institutional investors, who provided over 90 percent of the fund equity, and a long-term equity interest from IVG Immobilien AG, the transaction was carried out as a club deal. As part of this transaction, financing was provided by a major German pension scheme for a period of 10 years. The 166-metre, 36-storey Silver Tower, located in the middle of Frankfurt’s banking district, is considered a landmark property and has been undergoing extensive modernization since 2009. The total area of the complex (approximately 72,000 m²) is leased to Deutsche Bahn AG on a long-term basis. The modernization of the building formerly used as a headquarters by Dresdner Bank is almost complete, with a Silver sustainability certification from the DGNB (German Sustainable Building Council) expected in 2012. Counsel IVG Immobilien AG FPS Rechtsanwälte & Notare (Frankfurt am Main) Dr. Hendrik Sandmann (lead counsel; Real Estate) Dr. Holger Jakob (lead counsel; Corporate, Tax and Investment Law) Jörg Lamers (Real Estate), Dirk Mackeprang (Tenancy Law) Jörg Kadesch, Dr. Frank Beitz, Florian Wiesner (all Private Building and Construction Law) Dr. Olaf Dziallas, Christian Kullick (both Public Building and Construction Law) Susanne Lang, Claudia Mangold (both Tax and Corporate Law) Dr. Hans-Christoph Thomale (Energy Law) Dr. Markus Dinnes (Copyright) Press Contact FPS Rechtsanwälte & Notare Fuencisla Heiß Eschersheimer Landstraße 25-27 60322 Frankfurt am Main Telephone +49 (0)69 95957-3196 Telefax +49 (0)69 95957-244 Email: [email protected] FPS Rechtsanwälte & Notare Seite 2 FPS Rechtsanwälte & Notare is one of Germany’s leading independent law firms. We serve our national and international clients with 110 attorneys located across German business centres in Berlin, Düsseldorf, Frankfurt and Hamburg. The firm’s core competencies are corporate and commercial law, real estate, IP/IT and public sector law. Other main practices include banking & finance, M&A, corporate tax, labour & employment as well as litigation and mediation. FPS also offers integrated real estate-related notary services..