DLA Piper has advised Deutsche Fonds Holding AG on the sale of all shares (99.95 percent) held in the property 20 Moorgate, London, via the closed-end real estate fund EuroSelect 11, to Asian Growth Properties Limited. The sale price was in the region of GBP 155 million.

Built in 2002, 20 Moorgate is located in the heart of the traditional banking district of the City of London. The long-term principal tenant of the office property is the Bank of England, which occupies 97.2 percent of the gross lettable area. EuroSelect 11 acquired the property in 2005.

Deutsche Fonds Holding AG has been successfully launching, placing and managing closed-end funds for private and institutional investors since 1992 and offers its investors private equity opportunities in a variety of asset classes such as German real estate funds or asset structure funds. It currently manages fund assets amounting to some EUR 4.5 billion.

The transaction was led by DLA Piper teams from Frankfurt and London. In Germany, the team was led by client partner Fabian Muehlen who was supported by counsels Christian Lonquich (both Real Estate Frankfurt) and Robert Hofbauer (Finance & Projects, Frankfurt). In London , partners Richard Wilkinson (Real Estate) and Robert Salter (Corporate) led the team, which consisted of legal director Jonathan Whiteford (Real Estate) and senior associate Sam Jaffray (Corporate).