Clifford Chance advised an open fund, managed by French asset manager Amundi Real Estate, and Finnish mutual pension insurance company Ilmarinen, both of which advised by L'Etoile Properties, on the acquisition of an office building in the west of Frankfurt. The property was sold by a fund managed by JP Morgan Asset Management.

The high-quality property with its first-class location and an aggregate rentable area of approximately 31,800 square metres is fully let to Commerzbank AG. Commerzbank AG has rented the premises since 2004. In accordance with the bank's location strategy, it entered into a new long-term lease agreement in the summer of 2015.

The Clifford Chance team was led by partner Dr. Gerold Jaeger and comprised senior associate Markus Böhn and senior transaction lawyer Anja Roth (all Real Estate, Frank-furt), partner Dr. Uwe Schimmelschmidt (Frankfurt), counsels Dr. Dominik Thomer and Cord von Mandelsloh (both Düsseldorf, all Tax), partner Christine Koziczinski, senior associates Afroditi Tsobanelis-Görgen and Stefan Bruder (all Corporate, Frankfurt), partner Marc Besen (Düsseldorf/Brussels) and senior associate Dr. Dimitri Slobodenjuk (Düsseldorf, both Corporate/Antitrust) as well as partner Tobias Schulten and senior associate Tanja Gropp (both Banking & Capital Markets, Frankfurt).