Clifford Chance has advised RFR Holding GmbH, Frankfurt am Main, on the acquisition of the "Upper West" development project located on Kurfürstendamm, Berlin, from Strabag Real Estate GmbH.

The foundation stone for "Upper West" was laid on 25 June 2014 and it is intended for the building to be completed at the beginning of 2017. The complex comprises one high-rise building and a block building with a total leased area of 53,000 sqm. The anchor tenant of the 118m-high tower is Motel One Group who plan to open their biggest hotel in Germany with 580 rooms in the complex. The property will also include 25,000 sqm office space and 5,500 retail space.

RFR Holding GmbH belongs to RFR Group owned by the two real estate investors Aby Rosen and Michael Fuchs. RFR Group holds a global real estate portfolio worth approx. USD 10 billion.

The Clifford Chance team was led by partners Thomas Reischauer and Dr. Klaus Minuth and comprised senior associate Holger Pollmann and associate Jörg Reinshagen (all Real Estate), partner Thorsten Sauerhering, senior associate Dominik Engl and transaction lawyer Markus Kallenbach (all Tax), partner Christine Koziczinski and senior associate Stefan Bruder (both Corporate/M&A) as well as counsel Albrecht von Graevenitz (Corporate/Antitrust) – all Frankfurt.