Clifford Chance has advised the special fund, IVG Premium Green Fund (managed by IVG Institutional Funds), on the sale of the "An den Brücken" commercial property in Munich (consisting of two commercial properties) to two funds managed by Deka.

The parties have agreed not to disclose any details of the purchase price. IVG completed the building complex, which has Leed Gold / Leed Platinum status, in 2010.

The larger of the two buildings has a total leasable area of around 22,600 m², all of which is leased to FTI Touristik GmbH. The smaller building has a leasable area of 6,500 m² and is leased to eleven different companies.

The Clifford Chance team was led by partner Dr. Christian Keilich and comprised counsel Dr. Fabian Böhm, associate Dr. Philipp Stoecker and transaction lawyer Elmostafa Habib (all Real Estate), as well as partner Thorsten Sauerhering and senior associate Dr. Dominik Engl (both Tax) – all Frankfurt.

IVG Institutional Funds is a long-standing client of Clifford Chance. Previous projects have included a team headed by Dr. Christian Keilich advising on the purchase of the "Zeil 94" property in Frankfurt in 2013. In 2008, a team led by Tax partner Dr. Josef Brinkhaus advised on the launch of the IVG Cavern Fund; a team headed by Real Estate partner Dr. David Elshorst then advised on the funding of the purchase of the second cavern portfolio in 2011.