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Asset Sale: Seller's Counsel

CMS advises Allianz on sale of Zollstock-Arkaden property in Cologne

26 Mar 2018

Allianz has sold the Zollstock-Arkaden residential and commercial building in the Zollstock district of Cologne. The tenanted property was acquired by aik Immobilien-Investmentgesellschaft mbH for one of its special real estate funds. Built in 1991, the four-storey property is located south of downtown Cologne and offers total floor space of around 15,000 square metres. Retail premises account for some 5,700 square metres of the rental area, with approximately 3,500 square metres being devoted to offices and medical practices. The 77 residential units cover around 5,500 square metres.

DLA Piper advises Invesco Real Estate on sale of hotel portfolio

20 Mar 2018

DLA Piper has advised the global real estate investment manager, Invesco Real Estate (IRE), on the sale of a hotel portfolio consisting of four InterCity Hotels across Germany. The sale took place within a structured process as a share deal. The buyer is an Oman based investor's group led by Al Zaman Group of Companies. The parties involved have agreed not to disclose the purchase price.

White & Case Advises Oaktree Capital Management on Sale of SACO Property Portfolio

15 Mar 2018

Global law firm White & Case LLP has advised Oaktree Capital Management, a leading global alternative investment management firm, on its sale of the SACO property portfolio, one of the UK's leading providers of serviced apartments with an extensive network of properties around the world, to Brookfield Asset Management.

Odyssey Hotel Group Acquires New Century Hotel in Frankfurt-Offenbach

13 Mar 2018

Fried Frank acted as counsel to New Century Hotel Group in its conclusion of a long-term lease agreement and sale of New Century Hotel to Odyssey Hotel Group, which plans to convert the 4-star hotel to the Delta Hotels Marriott International brand by the second quarter of 2018. Until then, it will continue to operate under New Century Group's brand and management. New Century Hotel Group, based in China, is an investment and tourism group with a portfolio of 280 hotels with over 70,000 rooms across China.