Starting news article english 30 November 2012

Clifford Chance advises Generali Real Estate on the acquisition of The Seven Office in Munich

Clifford Chance advised Generali Real Estate, Cologne, on the acquisition of the office building The Seven Office at Gärtnerplatz in Munich. The property was sold by the joint venture aiP Gärtnerplatz formed by LBBW Immobilien Capital and alpha invest Projekt.

The Seven Office and the residential properties The Seven Atrium form the building complex The Seven. The main tenant of the property is the German head office of the international consulting firm Marsh & McLennan Companies occupying a total of approx. 9,000 m² gross floor space. The retail store chain Rewe has rented an area of approx. 2,000 m².

The German company Generali Real Estate manages the real estate portfolio of Generali Deutschland Group and belongs to Generali Real Estate S.p.A., a leading European company in property management and related services for institutional clients. With total assets under management worth approximately EUR 28 billion, Generali Real Estate is present in Italy, France, Germany, Austria, Spain, Belgium, The Netherlands, Switzerland, Eastern Europe and Asia.

The Clifford Chance team was led by partner Jörn Stobbe FRICS (Frankfurt) and comprised counsel Dr Ulrich Flege (Düsseldorf), associates Holger Pollmann and Dr. Jens Beynio – all Real Estate – as well as partner Thorsten Sauerhering and associate Dr. Dominik Engl (both Tax) – all based in Frankfurt.