Press Release on 9 Februar 2017

Munich, 9 February 2017 – LPA Munich has advised PERIAL Asset Management on the acquisition of an office property portfolio in Hesse, Germany, for its open property fund PFO2. The purchase price amounts to EUR 116 million.

The portfolio was acquired from a fund, which was managed by PATRIZIA Immobilien AG. It consists of 10 assets with a total lettable area of approx. 85,000 sqm. All buildings are fully let to various Hessian authorities. The average remaining term is close to 14 years. The major part of the portfolio is located in the Hessian state capital Wiesbaden, where many companies and authorities are based.

It was the first time that the French property investor PERIAL has acquired a property in Germany.

Advisors PERIAL Asset Management:

LPA Rechtsanwälte Steuerberater (Munich): Dr. Fabian Tross (Partner, Lead Advisor, Real Estate), Andreas Feuerstein (Partner, Finance), Dr. Stefanie Riebel (Partner, Public Law), Katarina Krekovic (Associate, Public Law), Loreen Werner (Associate, Real Estate), Victoria Zilliken (Senior Associate, Real Estate), Gerhard Köglmeier (Partner, Tax)

Advisors PATRIZIA Immobilien AG:

Clifford Chance (Frankfurt): Fabian Boehm, Manuel Lomb