Clifford Chance advised IVG Institutional Funds GmbH (IVG) on the acquisition of Eurotower, an office building in Frankfurt, by way of a share deal. The seller is RFR Holding GmbH who will retain a minority share in the property. So far, this is one of the biggest real estate transactions on the Frankfurt market in 2015. IVG is acquiring the office building on behalf of a German pension scheme.

The 40-storey building, which is located in Frankfurt's city centre, has a height of 150m and rental space totalling to approx. 60,000 sqm. The Eurotower served as the European Central Bank's headquarters until the Bank moved to the new ECB building in Frankfurt's east. After the move, the building will be used by the European Banking Supervision Authority.

The Clifford Chance team was led by partner Dr. Christian Keilich and included senior associates Dr. Philipp Stoecker and Holger Pollmann, associate Manuel Lomb and transaction lawyer Elmostafa Habib (all Real Estate), partner Christine Koziczinski, senior associate Stefan Bruder and associate Carmen Büker (all Corporate), partner Dr. Jan Grabbe and senior associate Dr. Heiko Kermer (both Tax), partner Dr. Beda Wortmann, counsel Dr. Alexandra Uhl and senior associate Michael Brill (all Banking & Capital Markets) – all Frankfurt – as well as partner Marc Besen (Antitrust, Düsseldorf).

The team led by Dr. Christian Keilich regularly advises IVG Institutional Funds, most recently on the sale of Frankfurt's high-rise building "Silberturm" in January 2015. The Eurotower transaction is thus the second landmark deal with a volume running into the mid-triple-digit millions this year on which Clifford Chance advised IVG Institutional Funds.