Norton Rose Fulbright has advised the US property fund American Reality Capital Global Trust (ARC) on the acquisition of RWE’s headquarter buildings in Essen, Germany.

With a height of 127 metres, the RWE Tower is the largest office building in Germany’s Ruhr region and symbolises the region’s structural change. It was built between July 1994 and December 1996 and, together with four neighbouring buildings, the entire complex encompasses around 56,000 square metres. The parties agreed that RWE will rent the five buildings in sale and leaseback agreements. Essen will therefore remain the utility group’s future headquarter location.

The Norton Rose Fulbright team was led by Munich partners Maren Stölting (real estate) and Andrea Spellerberg (real estate finance), supported by Oliver Paasch, Christoph Richter and Hye Sook Cho. Tax advice was provided by Munich partner Alexander Hemmelrath and of counsel Frank Bayer. Brussels partner Michael Jürgen Werner provided competition advice, supported by Philipp Heuser.

Hamburg of counsel Felix Dinger advised on public law.

RWE was advised inhouse by Nina Fürer and Hauke Rathjen, supported by Frankfurt legal practice Wendelstein LLP.