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SJ Berwin LLP
Tuesday, May 08, 2007
SJ Berwin LLP Advises New Client Citigroup Property Investors on Joint Acquisition in Germany
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European law firm SJ Berwin’s German real estate practice has advised new client Citigroup Property Investors and Arax Properties Ltd in connection with their joint acquisition of six properties in North and North East Germany for EUR 95 million from DIAG Gruppe. The properties are all mixed-use retail properties and one MediCentre. SJ Berwin also advised Citigroup and Arax in respect of their debt financing which is provided by Credit Suisse. This is the first time that SJ Berwin has advised Citigroup Property Investors, and the client appointment is a significant step for the development of SJ Berwin’s German real estate practice. The firm has previously advised Arax Properties on its German real estate transactions. The Frankfurt office alone, advised on deals worth Euros 2,300,000,000.00 in 2006. The SJ Berwin team was led by Frankfurt real estate partner Sebastian Gronstedt, assisted by Associates Thomas Fluegel and Ulrike Janssen, with German partner Thomas Schrell, assisted by Benjamin Klinkert advising on banking and German partner Markus Hill, assisted by Carsten Ludwig on tax issues. The vendor was represented by Stefan Koch and Joachim Frank from Hoeck+ Schlueter in Flensburg.

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