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.
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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