Allen & Overy advises CORESTATE on sale of large real-estate portfolio

Allen & Overy has advised CORESTATE on the sale of a real-estate portfolio comprising approximately 8,200 units to ADLER Real Estate by way of a share deal.

The sale is the largest yet in the property investor’s history. The portfolio comprises more than 7,700 residential and 490 commercial units located all over Germany, with main focuses in Saxony, Saxony-Anhalt and North Rhine-Westphalia. The total lease area of the portfolio units is around 542,000m². The parties agreed not to disclose the purchase price.

Since being purchased, the portfolio had undergone continual optimisation in the form of investment in refurbishments and active management, with the vacancy rate being lowered by six percentage points and rental income increased accordingly.

CORESTATE is a specialist real-estate investor based in Zug, Switzerland, with partner offices in Frankfurt, Essen, London, Luxembourg and Singapore.

The Allen & Overy team was led by partner Dr Christian Eichner and senior associate Dr Michael Fink (both corporate/M&A, Düsseldorf), counsel Filip Kurkowski (banking and finance, Frankfurt) and associates Krisztian Rozsa, Kyrill Chilevych (both corporate/M&A, Düsseldorf) and Frederik Jahn (banking and finance, Frankfurt).

  • Print

Analysis from The Lawyer

  • Panel reviews

    Panel reviews 2014: The chosen ones

    Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all

  • training

    Accutrainee: Revolution postponed

    At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.

View more analysis from The Lawyer


One Bishops Square
E1 6AD

Jurisdiction: UK
No. of offices: 11
No. of qualified lawyers: 273