Cording Real Estate Group LLP acquired Carrée Seestrasse office building in Berlin from Deutsche Real Estate AG (DB:DRE2) for approximately €230 million on June 18, 2019. PGIM Real Estate, on behalf of its Cording Real Estate Group, will provide mezzanine financing to part fund the purchase, with Hamburg Commercial Bank providing senior financing. The property's annual rental income totaled €4.62 million as of December 31, 2018. The transfer of benefits and burdens will take place on December 31, 2019 after full payment of the purchase price. The sale will have a positive effect on Deutsche Real Estate's consolidated result of the current financial year before taxes of around €16 million. Post the acquisition, Cording Real Estate Group LLP will manage Carrée Seestrasse office building from its Berlin office. Chris Clarke, Gillian Martin and Owen Matthews of Liberum Capital Limited acted as financial advisors for Summit Properties Limited, parent of Deutsche Real Estate. Cushman & Wakefield acted as real-estate advisor to Cording Real Estate Group LLP. Goodwin Procter acted as legal advisor to PGIM Real Estate. BNP Paribas Real Estate real-estate advisor to Deutsche Real Estate AG (DB:DRE2). Gerold M. Jaeger, Philip Heinzel, Arne Gerber, Elif Üzümovali, Philipp Heinrichs, Christof Häfner, Necla Ilhan, Gregor Zymek, Sarah Katharina Winter, Olaf Mertgen, Jan H. Grabbe, Dr. Nadine Schader, Steffen Waadt, Marc Besen, Dimitri Slobodenjuk, Anne Filzmoser, Caroline Scholke, Albrecht von Graevenitz, Jörg Rhiel, Thomas Gasteyer, Alexander Shemyakin, Katia Gauzès, Frédérique Davister, Gilles Bropsom, Emmanuel-Frédéric Henrion, Matthias Kerbusch, Stefanie Ferring, Geoffrey Scardoni, Maxime Budzin and Simon Paran of Clifford Chance Partnerschaftsgesellschaft acted as legal advisors to Cording Real Estate Group LLP.