DLA Piper has advised Helaba Landesbank Hessen-Thüringen (Helaba) on the financing of the acquisition of an office portfolio by Corpus Sireo Real Estate. The seller is Swiss Life and the parties have agreed not to disclose the purchase price and the amount of financing.

The 108,000 square metres portfolio financed by Helaba consists of eleven office properties located in Hanover, Essen, Düsseldorf, Neuss, Cologne, Mannheim, Oberursel, Neu-Isenburg and Frankfurt. With an area of 98,200 square metres, office space accounts for the largest share.

Corpus Sireo Real Estate will manage the portfolio from its German locations, alongside creating opportunities for the new owners to add value to the portfolio.

In addition to the commercial and technical asset management, the company is also taking over the letting, construction project control and transaction management for the portfolio.

Helaba is one of the largest German providers of financing solutions for commercial properties, focussing on office and retail properties, business parks and logistics centres in Germany, Europe and in the US.

The Frankfurt-based DLA Piper Finance and Projects team was led by Global Co-Chair of Financial Services, Frank Schwem, assisted by counsel, Dr Katalin Legradi, and transaction lawyer, Dr Zsuzsanna Somogyi-Csizmazia. In Munich, Real Estate partner Lars Reubekeul and counsel Karin Elske supported the team, alongside Luxembourg-based Finance and Projects partner, Xavier Guzman. DLA Piper regularly advises Helaba on real estate financing transactions.