Clifford Chance has advised IVG Institutional Funds on the sale of the "Silberturm" property in Frankfurt (Jürgen-Ponto-Platz 1) and the adjacent building at Gallusanlage 8 as part of a share deal. The property was sold by an investment consortium led by IVG Institutional Funds. The buyer is an Asian investor syndicate managed by Hines. The parties have agreed not to disclose any details of the purchase price.

The 166-metre high "Silberturm" in Frankfurt's banking district is one of the city's best-known skyscrapers. The properties have a total floor area of around 72,000 m², all of which is let to Deutsche Bahn AG on a long-term lease.

The Clifford Chance team was led by partner Dr. Christian Keilich and comprised counsel Dr. Fabian Bohm, transaction lawyer Elmostafa Habib (all Real Estate), partner Christine Koziczinski, senior associate Stefan Bruder, associate Carmen Buker (all Corporate) and partner Dr. Jan H. Grabbe, senior associate Patrick Faller and associate Dr. Maximilian Oehlschlagel (all Tax) – all Frankfurt.

A team led by Dr. Christian Keilich had already advised Commerzbank AG in October 2011 on the sale of the property to the investment consortium led by IVG Institutional Funds.