German Acorn Real Estate/Deutsche Office AG
Acquisition of the portfolio of 49 commercial office buildings throughout Germany with over 550,000 sqm GLA, a value of over EUR 1.1 bn and originations of over 800 m third party debt. Acquisition of the portfolio of 12 commercial office buildings throughout Germany with over 270,000 sqm GLA, with a value of over EUR 600 m and originations of over 450 m third party debt. Set-up of the operating platform German Acorn Real Estate including management and insourcing all external managed functions. Exited through a selective sale of assets and a merger of German Acorn Real Estate with Prime Office AG including refinancing (EUR 900 m) and capital increase (EUR 130 m), forming a leading listed commercial real estate company Deutsche Office AG with a value over EUR 3 bn, which was subsequently merged and sold to Alstria Office REIT-AG.