The international law firm Clifford Chance advised the Mann Group, Karlsruhe, on the sale of the office building at the Alte Oper (BAO) in Frankfurt to a fund managed by Tishman Speyer.

The parties have agreed not to disclose the purchase price. The sale still has to be approved by the antitrust authorities.

The 21-storey office building, built in 1984 and extensively renovated by the seller between 2015 and 2018, offers around 20,900 square metres of usable floor space and is LEED Gold certified as an ecologically particularly efficient building. With a vacancy rate of less than 10 percent, it is one of the best managed properties in Frankfurt.

The advisory Clifford Chance team for the Mann Group comprised partners Christian Keilich and Markus Böhn, associates Anne Voigt and Simon Schulz, transaction lawyers Franziska Ernst and Elmostafa Habib (all Real Estate, Frankfurt), partner Thorsten Sauerhering and counsel Dominik Engl (both Tax, Frankfurt) as well as partner Marc Besen and associate Johannes Lüer (both Antitrust, Düsseldorf).