Office complex in Berlin was sold for €144 million by German fund manager WealthCap

Berlin - Global law firm Dentons has advised Singapore-based investor IREIT Global on the purchase of an office complex as well as its bank financing. Seller is a fund managed by German fund manager WealthCap. The building is located near Ostkreuz in Berlin-Lichtenberg and consists of two buildings. Main tenant with 98.8% of the rental space is the federal pension fund DTB until 2024 so far. The deal was partly financed by an equity capital increase of €59 million in Singapore.

IREIT Global is a real estate investment trust with a total portfolio of €438 million, including the current acquisition. Already last year IREIT Global bought several real estates in Germany, comprising Telekom buildings in Bonn, Darmstadt and Münster as well as an office complex in Munich.

The Dentons team around leading partner Dirk-Reiner Voss advised IREIT Global comprehensively in all legal and tax related matters. This included all questions regarding the acquisition itself but also the bank financing by HSH Nordbank of the acquisition on which IREIT Global was advised by a Dentons finance team headed by partner Bernhard Gemmel. The relationship has been developed in close collaboration during last year’s acquisitions which were supervised by Dentons as legal advisor.

Advisor IREIT Global

Dentons (Berlin/Frankfurt): Dirk-Reiner Voss (Partner, leading, Real Estate), Hauke Thieme (Partner, Tax), Bernhard Gemmel (Partner, Real Estate Finance), Sebastian Schmid (Counsel), Boris Strauch (Counsel, both Real Estate), Tobias von Gostomski (Counsel), Michael Valentin (Senior Associate, both Real Estate Finance), Dr. David Lange (Senior Associate), André Morgenstern (Associate, both Real Estate), Stephan Hamacher (Associate, Tax), Ceren Türkekul (Real Estate Finance)