Berlin, September 12, 2018 – Greenberg Traurig advised a joint venture managed by Schroders on the acquisition and financing of the Pollux office tower in Frankfurt am Main. The Finnish pension fund Ilmarinen Mutual Pension Insurance Company and another international institutional investor form the joint venture. The purchase price amounts to approximately EUR 230 million.
The 32-story office tower comprises approximately 35,000 square meters of rental space and is currently 95 percent let. The main tenant is Zurich Insurance.
Greenberg Traurig advised Schroders comprehensively on all legal aspects of the transaction and financing as well as on the establishment of the joint venture structure.
Background: Greenberg Traurig's team advised Schroders in a transaction for the first time in Germany.
About Greenberg Traurig: Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia and the Middle East. GT has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on the 2017 Am Law Global 100. Web: www.gtlaw.com Twitter: @GT_Law.