Berlin/Tel Aviv, September 7, 2017 - Greenberg Traurig advised a group of Israeli institutional investors who acquired the Eschborn Plaza office complex in a joint venture led by Aurec Capital. The group was comprised of Migdal Insurance Group, Bank Leumi Pension Fund and IDI Insurance Company as well as a leading Israeli provident and pension fund.
The landmark building, located near Frankfurt am Main, Germany, was purchased for EUR 236 million from two closed-ended funds managed by Commerz Real. The property includes approximately 42,000 square meters of office space and its main tenant is Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft with a lease term until 2030.
Greenberg Traurig’s Germany and Israel offices jointly advised the Israeli institutional investor group on all legal matters regarding the joint venture, acquisition and financing.
Background:
Greenberg Traurig’s Tel Aviv office regularly advises the Migdal Group and represents a large number of Israeli institutional investors (pension funds and insurance companies) in cross-border real estate activities. This transaction marks Greenberg Traurig's first Israeli-German cross-border real estate acquisition.
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