Ashurst advised IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH (IntReal) on the acquisition of a real estate portfolio from DIC Asset AG by way of a share deal. The purchase price for the nine commercial properties in Berlin, Cologne, Frankfurt, Munich as well as in other economically strong regions was c. €270 million.

IntReal acted within the framework of the transaction as 'Service-KVG' of DIC Asset AG which is adding the nine existing properties as an initial portfolio to the newly launched open special real estate AIF "DIC Office Balance III". Investors of the funds are German institutional investors, including pension schemes, pension funds and savings banks.

The Ashurst team was led by partner Dr Liane Muschter and senior associate Dr Henrik Theismann (both real estate, Frankfurt). Counsel Jan Krekeler advised on company law, partner Heiko Penndorf and senior associate Felix Krüger on tax law.