Godewind Immobilien AG and ERWE Immobilien AG (DB:ERWE) completed the acquisition of Office Building In Frankfurt from Madison International Realty, LLC and Peakside Capital.

Godewind Immobilien AG (XTRA:GWD) and ERWE Immobilien AG (DB:ERWE) signed a purchase contract to acquire an office building in Frankfurt from Madison International Realty, LLC and Peakside Capital for approximately €170 million on October 31, 2018. Following the transaction, Godewind Immobilien will own 89.9% stake in office building in Frankfurt, while ERWE Immobilien will own 10.1%. Godewind Immobilien AG will use equity of around €76 million to finance the transaction. In addition, existing financing of €88 million is to be taken over. For the year ended December 31, 2017 the revenue amounts to €10.14 million. The transaction is expected to be closed by the end of the year 2018. Gerold M. Jaeger, Philip Heinzel, Jonathan Klein, Christian Vogel, Olaf Mertgen, Dominik Thomer, Philipp Weiten, Katia Gauzès, Frédérique Davister, Alexandra Dear, François-Xavier Dujardin, Maxime Budzin and Katharina Thielges of Clifford Chance acted as legal advisors for Godewind Immobilien AG and ERWE Immobilien AG. Hans-Christian Hauck, Henning Schuchardt, Dominik Berker, Severin Berker, Jörg Dombrowski, Philipp Graf von Dürckheim, Christine Koziczinski and Frank Soesters of HauckSchuchardt acted as legal advisors for Madison International Realty, LLC and Peakside Capital.

Godewind Immobilien AG (XTRA:GWD) and ERWE Immobilien AG (DB:ERWE) completed the acquisition of Office Building In Frankfurt from Madison International Realty, LLC and Peakside Capital on November 13, 2018.