Greenberg Traurig’s Tel Aviv and Germany offices jointly advised a group of Israeli institutional investors who acquired the Eschborn Plaza office complex in a joint venture lead by Aurec Capital. The group was comprised of Migdal Insurance Group, Bank Leumi Pension Fund, and IDI Insurance Company as well as a leading Israeli provident and pension fund.
The landmark building, located near Frankfurt am Main, Germany, was purchased for EUR 236 million from two closed-ended funds managed by Commerz Real. The property includes approximately 42,000 square meters of office space and its main tenant, a large auditing firm, has
Greenberg Traurig represented the Israeli institutional investors in all legal matters regarding the joint venture, acquisition and financing.
Our Tel Aviv office’s International Real Estate Practice led by Lawrence Sternthal regularly advises the Migdal Group and represents a number of Israeli institutional investors (pension funds and insurance companies) in cross-border real estate activities. This transaction marks GT’s first major Israeli-German cross-border real estate acquisition.
GT legal team to advise on this matter:
Shareholders: Lawrence Sternthal (lead attorney, Israel, Real Estate/Joint Venture), Dr. Christian Schede (lead attorney, Germany, Real Estate/M&A), Claudia Hard (Finance)
Associates: Devora Y. Snyder (Israel, Real Estate/Joint Venture), Martin Dobias, Dr. Johannes Steinfort (both Germany, Real Estate/M&A)