Freshfields Bruckhaus Deringer has advised a joint venture led by Tishman Speyer on the sale of the high-rise building OMNITURM in Frankfurt am Main. Purchaser is Commerz Real who acquires the property for its open real estate fund “hausInvest”. The complex transaction was carried out by way of a share deal; signing and closing of the transaction took place on the same day.
OMNITURM is a 190-metre high mixed-use property located in the centre of Frankfurt’s banking district and is currently being developed by Tishman Speyer. More than 60 percent of the office space have already been let. Completion is scheduled for the third quarter of 2019. The so-called “hybrid high-rise building” will bring together residential, office and public space in one location and so continuing the trend towards mix-use properties.
Freshfields recently advised Tishman Speyer several times, inter alia also in the context of a high-rise building in Frankfurt’s banking district, namely on the acquisition of the TaunusTurm property in Frankfurt.
The Freshfields team was led by Johannes Conradi, with Tim Behrens, Sarah Kutsche, Daniel Brauner (all Real Estate), Robert Kastl (Finance), Martin Schiessl, Rudi Hasenberg (both Tax) as well as Frank Röhling and Uwe Salaschek (both Antitrust).
The original press release can be found here on Freshfields Bruckhaus Deringer’s website.