Global legal practice Norton Rose Fulbright has advised CA Immo Deutschland GmbH and CA Immo Frankfurt Tower 185 Beteiligungs GmbH on the successful finalisation of an agreement to sell part of Frankfurt’s landmark office building “Tower 185“. Two German pension institutions are each to acquire one-third of the Frankfurt office property which has a market value of around € 500m. Contracts were signed on September 30, 2013. The Austrian holding company CA Immobilien Anlagen AG is to retain a one-third stake and the responsibility for the object’s asset management through its German subsidiary CA Immo Deutschland GmbH.

The sale coincides with the agreement of a long-term real estate loan for the property with Bayerische Versorgungskammer (BVK), in the amount of € 300m. Norton Rose Fulbright also advised CA Immo on these financing matters.

CA Immobilien Anlagen AG, headquartered in Vienna, Austria, was established in 1987 and is a European real estate company with a focus on renting, development and sale of commercial properties. This is the first time Norton Rose Fulbright has advised CA Immo, thereby assisting on the biggest development project undertaken by the company to date.

Reaching to a height of 200 metres, Tower 185 is Germany’s fourth tallest office building. It was completed in January 2012 and is a landmark of Frankfurt’s foremost financial centre. The property's sustainability credentials have been certified to LEED Gold standard.

The following Norton Rose Fulbright team was involved in the transaction:

Partner: Thomas Hopf (lead, real estate), Oliver Sutter (real estate finance), Martin Krause (regulatory) all Frankfurt, Uwe Eppler (tax, Hamburg), Michael Jürgen Werner (antitrust and competition, Brussels).

Of Counsel/Associates: Ulrike Bernert-Auerbach, Andrej Latinovic (of counsel, both real estate), Nadine Bourgeois, Bernhard Fiedler (both real estate finance), Karsten Kühnle (of counsel, corporate/M&A), Stefan Angsten (regulatory) all Frankfurt, Alexander von Reuss (tax, Hamburg), Philipp Heuser (antitrust and competition, Brussels).

Inhouse/CA Immo: Claudia Laue (Frankfurt).

The buyers were advised by Clifford Chance.