Ashurst advised Samsung SRA Asset Management ("Samsung SRA") on the acquisition of the 'Silberturm', or Silver Tower, in Frankfurt. Samsung SRA acted, similar to a KVG special fund (Kapitalverwaltungsgesellschaft, capital management company) for various South-Korean institutional investors. The 166-metre-high property was essentially sold by eight special funds managed by IVG Institutional Funds for an undisclosed consideration.

The 34-storey Silver Tower was built between 1975 to 1978 and acted as Dresdner Bank's headquarters for many years. In 2008, Commerzbank acquired the highrise with the distinctive silver facade as part of the acquisition of Dresdner Bank and sold it in 2011 to a group of investors led by IVG. The building located on Jürgen-Ponto-Platz 1 is currently let to Deutsche Bahn.

Ashurst's multi-practice team was led by Frankfurt-based real estate partner Peter Junghänel. He was supported by partners Derk Opitz (Finance), Heiko Penndorf (Tax) and Lars Jessen (Corporate). Senior associate Felix Krüger (Tax) as well as associates Caspar Samuel von Eicke und Polwitz (Real Estate), Andreas Mallin (Finance, all Frankfurt) and Julius Heusgen (Corporate, Munich) also advised.

This is the second transaction on which a team led by Peter Junghänel advised Samsung SRA. On an international level, Samsung SRA and Ashurst have a long-standing client relationship.