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Ebner Stolz advises Continuum Capital

Ebner Stolz advi­ses Con­ti­nuum Capi­tal in joint acqui­si­tion of office com­plex Tul­pen­feld in Bonn with Gold­T­ree

Con­ti­nuum Capi­tal and a pro­perty com­pany belon­ging to the Swiss real estate inves­tor Gold­T­ree have acqui­red Tul­pen­feld, the office buil­ding for­merly used as govern­ment mini­s­trie­sin Bonn. The sel­ler was an inter­na­tio­nal invest­ment fund for around 90 mil­lion
euros. Con­ti­nuum Capi­tal and Gold­T­ree arran­ged the tran­sac­tion by divi­ding the assets
into a here­di­tary buil­ding right with a 99-year lease toge­ther with exten­sion opti­ons, and
into the lea­se­hold pro­perty. While Gold­T­ree acqui­red the here­di­tary buil­ding right,
Con­ti­nuum Capi­tal struc­tu­red the invest­ment into the newly crea­ted lea­se­hold pro­perty for a Ger­man pen­sion fund. The tran­sac­tion was bro­ke­red by Savills. The pro­perty was finan­ced  through HSH Nord­bank. The future asset mana­ge­ment will be taken over for Gold­T­ree by  McCaf­ferty fol­lo­wing pro­vi­sion of finan­cial advice for the dura­tion of the tran­sac­tion. The  par­ties have agreed to main­tain sec­recy on the value of the overall tran­sac­tion.

The office com­plex Tul­pen­feld 1-10, which is loca­ted in the centre of the for­mer govern­ment dis­trict of Bonn, con­sists of ten buil­dings with a total ren­tal area of around
49,000 square met­res while the land sur­face area is around 44,000 square met­res. The indi­vi­dual buil­dings have been arran­ged around a cen­tral square which gives the plot a lively cam­pus atmos­phere. The prin­ciple ten­ant is a federal govern­ment agency occu­p­ying
almost 35,000 square met­res.
 
Con­ti­nuum Capi­tal with its offi­cial seat in Frank­furt is gea­red exclu­si­vely towards the struc­tu­ring of pro­perty invest­ments which, by sepa­ra­tion of buil­dings and land, enable more pro­fi­ta­ble invest­ments in the pro­per­ties on the one hand and long-term invest­ments
pro­tec­ted from infla­tion in ground lease pro­perty on the other. The Gold­T­ree Group is an
inter­na­tio­nal inves­tor with its head­quar­ters in Zürich which invests in com­mer­cial pro­perty,
mainly in Ger­many and Swit­zer­land. This tran­sac­tion ser­ves to expand the Ger­man port­fo­lio for the Gold­T­ree Group whose invest­ment stra­tegy is based on sta­ble ear­nings
through key ten­ants such as the Ger­man govern­ment agency for pro­perty admi­ni­s­t­ra­tion,
Bun­des­an­stalt für Immo­bi­li­en­auf­ga­ben. 
 
The legal and tax advise was pro­vi­ded to Con­ti­nuum Capi­tal by Ebner Stolz, Cologne, under the lead mana­ge­ment of Dr. Daniel Kau­ten­bur­ger-Behr. The other mem­bers of the
team were Tho­mas Her­zo­gen­rath (tax law) and Tho­mas Rös­ner (Asso­ciate real estate law). 

Gold­T­ree recei­ved legal advice from Orrick, Her­ring­ton & Sut­c­liffe LLP, Düs­sel­dorf.  Part­ner Annette  Pospich was res­pon­si­ble for the man­date, sup­por­ted by Dr. Sven Greu­lich (Coun­sel,  Düs­sel­dorf), Chri­s­toph Wen­de­roth, Lara Fin­ken and Dr. Nikita  Tkat­chenko (Asso­cia­tes, all Düs­sel­dorf). The tax advice was pro­vi­ded by Fair Audit, Ham­burg (Michel Geries and Frank Mar­tens). Küm­mer­lein Rechts­an­wälte und Notare, Essen were legal advi­sors for the pen­sion fund under the lead mana­ge­ment of Michael Scha­cke and Alex­an­der O’Con­nolly. The sel­ler’s legal advice was pro­vi­ded by Hans-Chris­tian Hauck and Dr. Jens Luc­kas from the Frank­furt law firm Hauck­Schuchardt  Part­ner­schaft von Steu­er­be­ra­tern und Rechts­an­wäl­ten mbB.
 
Tran­sac­tion advi­sor with McCaf­ferty was Sebas­tian Schöb­erl (Direc­tor). The per­son res­pon­si­ble with Savills was Ste­fan Mel­lies (Asso­ciate Direc­tor) and with HSH Nord­bank was Helge Pitz (Senior Rela­ti­onship Mana­ger).

About Ebner Stolz
Ebner Stolz is an inde­pen­dent Ger­man multi-dis­ci­p­line advi­sory and audi­ting firm orga­ni­sed as a part­nership and is one of the TOP 7 in the sec­tor. The firm, with over 400 acc­re­di­ted pro­fes­sio­nals and qua­li­fied spe­cia­lists, gene­ra­tes an annual tur­no­ver in excess of EUR 150m. Ebner Stolz advi­ses  not  only  tra­di­tio­nal family busi­nes­ses,  pri­va­tely-owned  and  mana­ged enter­pri­ses  and  capi­tal  mar­ket-ori­en­ta­ted  com­pa­nies  but also cre­dit insti­tu­ti­ons and finan­cial inve­s­tors.The firm’s orig­ins and foun­da­ti­ons  lie  in  the ser­vi­cing of busi­ness enter­pri­ses mana­ged by their owners. For this rea­son the part­nership rela­ti­onship, per­so­nal ser­vice and effi­ci­ent, highly qua­li­fied and com­mit­ted advice are important to Ebner Stolz. The firm pro­vi­des inter­di­s­ci­p­li­nary sup­port to its cli­ents in the fields of legal and tax advice, audi­ting and mana­ge­ment con­sul­tancy and has pro­noun­ced exper­tise in nume­rous bran­ches of indu­s­try, the pro­perty busi­ness being just one. 
 

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