DLA Piper has advised the private equity fund (“Kildare”) on the acquisition of the German commercial real estate business, GE Capital Real Estate (“GE Capital”). The portfolio it has acquired includes over includes 60 commercial properties and 80 real estate loans. The loans are predominantly collateralised with office properties.

The sale is part of the strategic realignment of the GE Group, which wishes to concentrate on its industrial core business in the future.

Kildare is a private equity organisation which invests in distressed commercial real estate related opportunities in Western Europe. To date, Kildare has closed on 12 investments with an aggregate purchase price of USD 3.8 billion.

The DLA Piper Team led by partner Dr Carsten Loll included counsel Dr Martin Haller, the associates Dr Manuel Indlekofer, Sarah Oelsner, Britta Jilge and Eva Schuenemann, as well as the two transaction lawyers Lisa Waizenhoefer and Monika Nierlich (all Real Estate, Munich). Also involved in the counselling were partner Matthew Christmas and associate Charles Weems from the firm's Manchester office (both Finance & Projects).

Ashurst additionally advised Kildare partners on the company law matters in the takeover of the loan portfolio as well as on the aspects of tax law.