Press Release
| May 13, 2008
Dewey & LeBoeuf Advises Morgan Stanley on the Acquisition of Parktower in Frankfurt
(Frankfurt - 13 May 2008) - Dewey & LeBoeuf advised the Morgan Stanley Real Estate Group on the acquisition of a property company owning the Frankfurt office building Parktower. The building was sold by Dietz Holding AG and Tectum Properties AG & Co KG, both companies of the Dietz Group. The purchase price was agreed to be kept confidential.
Parktower, which is located at Bockenheimer Anlage in the center of Frankfurt and was formerly known as SGZ tower, has approximately 24,000 square meters of gross floor area. The building underwent complete renovation between 2005 and 2007. Law firm Freshfields Bruckhaus Deringer has been the principal tenant of Parktower since the end of 2007.
For Morgan Stanley the Parktower is the 4th prestigious office building in the Frankfurt banking district apart from the Trianon skyscraper, the Frankfurt Wave and the headquarter of the European Central Bank
Dewey & LeBoeuf advised Morgan Stanley in close cooperation with Hauck Rechtsanwälte. Whilst the Dewey & LeBoeuf team led by Ralph Wagner and Thomas Schmuck focused on the corporate law related aspects of the transaction (including corporate due diligence and financing), Hauck Rechtsanwälte advised on real estate law. Ralph Wagner and Hans-Christian Hauck jointly conducted the negotiations of the sales contract.
Already back in 2007 Ralph Wagner (at that time with P+P Pöllath + Partner) and Hauck Rechtsanwälte acted for Morgan Stanley on the acquisition of the Trianon skyscraper.
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