Clifford Chance has advised alstria office REIT-AG on its acquisition of a commercial real estate portfolio from OFFICEFIRST Immobilien AG. The purchase price (including ancillary costs) is EUR 168.5 million. The deal is due to be completed by mid- 2017.

The twelve office properties in the portfolio are located in Hamburg, Düsseldorf and Berlin and comprise total lettable space of 106,000 square metres. The properties currently generate annual rental income of EUR 9.9 million and an average of 3.4 years remains on the leases.

The Clifford Chance team was led by partner Reinhard Scheer-Hennings (Düsseldorf, Real Estate) and comprised partner Dr. Gerold Jaeger (Frankfurt), associates Alexander Shemyakin and Jonathan Klein and senior transaction lawyer Katrin Rötering (all Düsseldorf, all Real Estate), partner Dr. Uwe Schimmelschmidt (Tax, Frankfurt), partner Marc Besen (Brussels/Düsseldorf) and associate Anne Filzmoser (Düsseldorf, both Antitrust) as well as of counsel Prof. Dr. Thomas Gasteyer (Corporate, Frankfurt).