Clifford Chance advised two special-purpose vehicles - acting for a residential properties fund recently launched by global real estate investment manager Heitman - on the acquisition of a real estate portfolio from British property manager Grainger and on the launch of the fund with a target equity capital volume of ap-proximately EUR 250 million.

The real estate portfolio was acquired by way of a share deal. The parties have agreed not to disclose the purchase price.

The real estate portfolio consists of 110 buildings, mostly located in or around Frankfurt and Mannheim, with approximately 1,595 residential units with a total size of approximately 108,600 square metres.

The Clifford Chance team, led by partner Cornelia Thaler (Real Estate, Frankfurt) - with regard to the acquisition of the real estate portfolio – and by partner Joëlle Hauser (Corporate/Investment Funds, Luxembourg) - with regard to the launching of the fund -, comprised associates Bernd Christian Bäumer and Manuel Lomb, transaction lawyer Elmostafa Habib (all Real Estate, Frankfurt), partner Christine Koziczinski and transaction lawyer Moritz Erdmann (both Corporate, Frankfurt), partner Marc Besen (Düssel-dorf/Brussels), senior associate Nadia Simon and Associate Caroline Slusarek (both Düsseldorf) - all Corporate/Antitrust -, counsel Augustin de Longeaux (Corporate/Investment Funds, London) as well as counsel Arne Bolch and senior associate Sascha Nolte (both Corporate/Investment Funds, Luxembourg).