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13.09.2018

GSK Stockmann advises Starwood Capital Group and Cells on Purchasing the Office Buildings Fifty Avon in Frankfurt

The joint venture of a Starwood Capital Group fund subsidiary and CELLS Property Investors bought the Fifty Avon office buildings in downtown Frank-furt in a share deal. GSK Stockmann provided the legal support for this trans-action. The parties agreed to keep the purchase price confidential.

With GSK Stockmann’s comprehensive legal advice regarding German and Luxem-bourg law, Starwood Capital Group and Cells Property Investors were able to ac-quire the real estate portfolio located at 50 Mainzer Landstrasse in Frankfurt am Main. GSK Stockmann and GSK Luxembourg advised on due diligence, the pur-chase and on financing.

The Fifty Avon office buildings comprise a total area of more than 20,000 m2. The transaction is mainly financed by Deutsche Pfandbriefbank AG and is one of several investments the American investment company Starwood has made in Germany so far.

In December 2017, Starwood and Cells acquired the Diamant² property in Hamburg, a joint venture GSK Stockmann also supported with comprehensive legal advice.

Advisers Starwood Capital Group / CELLS Property Investors:

GSK Stockmann / GSK Luxembourg SA: Dr. Bernhard Laas (Lead, Real Estate), Dr. Alma Franke (Finance), Dr. Philipp Mössner (GSK Luxemburg, Corporate); Associates: Dr. Philipp Dawirs, Franziska Resch (both Real Estate), Dr. Mechtild-Maria Siebke, Karina Klein (both Finance), Eva Linde, Kerstin von Staa (both Projects & Public Sector), Anna Lindner, Chara Papagiannidi (both GSK Luxemburg, Corporate), Martin Hossenfelder (IP/IT).