Clifford Chance advised IVG Institutional Funds GmbH on the acquisition of the "Zeil 24" retail property located in Frankfurt. The parties agreed not to disclose the purchase price.

IVG has acquired the property located on Frankfurt's premier shopping street in a so-called "club deal" for two real estate special funds of institutional investors. The property with rental space of almost 7,800 sqm is leased out on a long-term basis to the Irish clothing group Primark. IVG takes over fund and asset management of the property.

The Clifford Chance team comprised partner Dr. Christian Keilich, counsel Dr. Fabian Böhm, associate Dr. Philipp Stoecker, transaction lawyer Elmostafa Habib (all Real Estate) and partner Thorsten Sauerhering as well as senior associate Dr. Dominik Engl (both Tax) – all Frankfurt.

http://www.cliffordchance.com/news/news/2013/05/clifford_chance_advises…