Clifford Chance has advised Allianz Real Estate on its acquisition of the "Eight Floors" office complex in Berlin on behalf of several companies of the Allianz group. The vendors are Patron Capital Partners, London, and Suprema Invest GmbH, Berlin. Allianz was able to secure ownership of the property for approximately EUR 175 million as part of a forward deal arrangement. Closing is scheduled for 2018 once extension and refurbishment of the building has been completed.

The "Eight Floors" complex is on Franklinstrasse in the Charlottenburg district of Berlin. The property has total floor space of around 40,000 square metres and offers units of up to 4,500 square metres on each floor. This size of unit is in particularly high demand in central Berlin. The current lessees are primarily firms benefitting from the proximity to the Technische Universität Berlin and other institutions in the area. The property is currently 83% let.

The Clifford Chance team was led by partner Dr. Christian Keilich (Real Estate, Frankfurt) and comprised senior associate Dr. Philipp Stoecker, partner Stefan Löchner, associates Manuel Lomb and Anne Voigt, transaction lawyer Elmostafa Habib (all Frankfurt) and associate Philip Heinzel (Düsseldorf, all Real Estate), partner Marc Besen (Brussels/Düsseldorf), counsel Dr. Dimitri Slobodenjuk and senior associate Miriam Kammer (both Düsseldorf, all Antitrust), partner Dr. Jan Grabbe (Tax, Frankfurt) as well as partner Christian Kremer, senior associate Sascha Nolte and associates Philippe Brausch and Tim Doll (all Corporate, Luxembourg).