7 November – LAWFUEL – The Law News Network – The international law firm Clifford Chance advised the federal state of Hesse on the sale of 18 state-owned real properties with a total rented surface of 396,700 sqm. The portfolio includes the new police headquarters in Frankfurt am Main, Adickesallee, the buildings in Wiesbaden, where the Hessian department Ministerium des Innern und für Sport as well as the Hessian Treasury have their seat.
The real properties were sold to CommerzLeasing und Immobilien Gruppe (CLI) by means of a portfolio transaction. The purchase price amounted to EUR 1.070 billion. The federal state of Hesse will continue to use the buildings on the basis of long-term lease agreements.
Clifford Chance advised the federal state of Hesse both in the course of the public procurement procedure on the selection of the economic advisors of the state as well as in connection with the subsequent bidding process on the sale and lease-back of the portfolio. Individual purchase and lease agreements were negotiated for each of the 18 real properties.
Clifford Chance’s team consisted of partners Dr. Klaus Minuth and Dr. Lutz Horn as well as associate Dr. Kai-Uwe Schneevogl (all Real Estate, Frankfurt).