SJ Berwin acts on German property buy

SJ Berwin has advised new client Citigroup Property Investors and existing client Arax Properties on their joint €95m (£64.64m) purchase of six properties in North and North East Germany from DIAG Gruppe. The SJ Berwin team was led by Frankfurt real estate partner Sebastian Gronstedt, assisted by associates Thomas Fluegel and Ulrike Janssen. The firm also advised Citigroup and Arax in respect of their debt financing, which is provided by Credit Suisse. German partner Thomas Schrell advised on banking, while German partner Markus Hill advised on tax issues. DIAG Gruppe was represented by Stefan Koch and Joachim Frank from Hoeck & Schlüter.