Fried Frank represented Cording Real Estate Group, a German, UK and Benelux real estate investment and asset management firm with €2.3 billion management mandates and 80 employees, on its acquisition of a German light industrial portfolio for €55.7 million from Gramercy Europe, a pan-European real estate investment fund manager.
Cording completed the acquisition, in association with Israeli insurance company and pension manager Migdal, through equity investment without leverage.
The portfolio, known to the market as the "Robin Portfolio," comprises three properties with a total lettable area of around 70,000 square meters.
The Fried Frank team was led by corporate partner Dr. Jürgen van Kann and included corporate special counsel Thorsten H. Stücklin, corporate senior associates Anjela Keiluweit and Dr. Jan Thomas Petersen, and tax partner Katrin Gänsler.
The full press release can be found here.