Clifford Chance advised Canadian property investor Brookfield Property Partners on the acquisition of the Potsdamer Platz portfolio in Berlin.

The building complex consists of a total of 17 properties, mainly office towers with tenants such as Daimler, Hubert Burda, China’s largest bank ICBC, law firms as well as  residential buildings. In addition, the portfolio includes the Potsdamer Platz Arkaden shopping centre, cinemas, a theatre, a hotel and some 30 restaurants and cafes. Furthermore, the complex with approximately 267,000 square metres of rental space comprises more than 2,000 spaces in the underground car park. The Potsdamer Platz portfolio is known as a prime site in the real estate community. The transaction is looked upon as one of the largest in Germany since 2008.

The vendor of the portfolio is Savills Fund Management GmbH (formerly SEB Asset Management), Frankfurt. The parties have agreed not to disclose the purchase price.

The Clifford Chance team was led by partner Cornelia Thaler and comprised senior associates Dr. Philipp Stoecker and Amrei Fuder, associate Manuel Lomb (all Real Estate, Frankfurt), partner Christian Trenkel, senior associates Martin Barlösius and Dorothea Friederike Schimmel as well as associate Agnieszka Anna Pikul (all Real Estate, Munich), partner Christine Koziczinski, senior associate Annette Petow and associate Carmen Büker (all Corporate), partner Dr. Uwe Schimmelschmidt and counsel Dr. Marie-Theres Rämer (both Tax), all Frankfurt, partner Marc Besen (Antitrust, Düsseldorf/Brussels) and senior associate Miriam Kammer (Antitrust, Düsseldorf), partner Tim Schreiber and associate Dr. Alexander Weiss (Litigation, Munich) as well as partner Dr. Beda Wortmann, senior associate Anna Brinkmeier and associate Kathrin Franck (all Banking & Capital Markets, Frankfurt).