Norton Rose Fulbright advises SCPI Eurovalys on acquisition of office buildings in Eschborn

Global law firm Norton Rose Fulbright has advised SCPI Eurovalys on the acquisition of two office buildings on the so-called KÖ campus in Eschborn next to Frankfurt, Germany. The seller is the internationally operating investment manager Investcorp. The off-market transaction had a volume of 70 million euros. It is the largest transaction on the Frankfurt investment market so far this year.

The properties acquired are the Kö10 and Kö12 office buildings managed by Montano Real Estate at Kölner Straße 10 and 12 in Eschborn. Together, the properties have approximately 28,000 square metres of usable space and are fully let. The buildings were built in 1991 and extensively refurbished and modernised in 2018. The overall site offers a total of around 40,000 square metres of lettable space and is centrally located in the Frankfurt Rhine-Main metropolitan region.

The purchaser SCPI Eurovalys is a fund managed by ADVENIS REIM. With this acquisition, the fund volume of the French SCPI Eurovalys now comprises 33 properties and more than 1.1 billion euros in assets under management.

The Norton Rose Fulbright team was led by Munich partner Dr Oliver Beyer and counsel Dr Barbara Heinrich (Frankfurt, both Real Estate). Senior Associate Michael Böger (Real Estate), Partner Tino Duttiné and Senior Associate Julia Gallinger (both Tax, Frankfurt), Partner Dr Andrea Spellerberg and Associate Benedict Schiller (both Real Estate Finance, Munich) also advised on the transaction.

The transaction was brokered by Jones Lang LaSalle. The seller was legally advised by CMS Hasche Sigle.