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Nexia Ebner Stolz

The Firm

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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