Starting news article english 8 April 2011

Clifford Chance advised iii-investments on the acquisition of Belgian company Avenue des Arts 35 S.A.

The international law firm Clifford Chance advised Internationales Immobilien-Institut GmbH (iii-investments) on the acquisition of the Belgian company Avenue des Arts 35 S.A. for a real estate investment fund from Provinzial Rheinland. Avenue des Arts 35 S.A. owns a 12-storey office building in the Quartier Leopold quarter, one of the prime office locations in Brussels. The purchase price amounts to approx. EUR 33 million.

iii-investments is the real estate investment company of HypoVereinsbank within UniCredit Group. It invests in quality real property in 13 European countries in the office, retail, logistics and residential sectors.

The advisory team of Clifford Chance included partner Dr. Uwe Schimmelschmidt (Tax), counsel Joachim Hasselbach (Corporate), associates Dr. Dominik Thomer (Tax) and Anja Breilmann (Banking & Capital Markets) – all Frankfurt – as well as partners Henri D'Ursel and Thierry Blockerye, counsel Pieter de Bock and associate Lise Gruber in the Brussels office of Clifford Chance.