Godewind Immobilien AG (XTRA:GWD) signed an agreement to acquire City Gate office tower in Frankfurt am Main for €85 million on May 22, 2019. The transaction is financed by entering into financing arrangement concluded by the closing date. As of August 30, 2019 Godewind Immobilien AG signed an credit agreement for a total of €56 million to finance the transaction. As of Decemeber 31, 2018 City Gate office tower in Frankfurt am Main generated revenues of €3.8 million. The transaction is expected to be completed in third quarter of 2019. HRO Germany GmbH serves as asset manager for the property. Christian Keilich, Sabrina Decher, Josef Brinkhaus and Anette Hofmann of Clifford Chance acted as legal advisors for HRO Germany GmbH. Marc Bohne of Goodwin Procter LLP, Frankfurt acted as legal advisor for Godewind Immobilien AG. Godewind Immobilien AG (XTRA:GWD) completed the acquisition of City Gate office tower in Frankfurt am Main on August 30, 2019.