Goodwin Procter recently represented Deutsche Asset & Wealth Management’s Grundbesitz Europa open-ended real estate fund on its £327 million sale of Tower Place in London to Ping An Life Insurance, China’s second-largest insurer.
Tower Place is comprised of two prime office buildings overlooking the Tower of London. It is the London headquarters of global professional services firm, Marsh and McLennan, which occupies the entire 384,600 sq ft space on a 25-year lease, due to expire in 2028.
The Goodwin team advising Deutsche Asset & Wealth Management was led by Joe Conder, partner in the firm’s real estate capital markets practice, and included real estate associates Martin Smith and Claire Haley. Partner Ben Eaton and associate Katie Leah provided additional support (Tax). The team is based in the firm’s London office.
Goodwin’s London office has acted for Deutsche Asset & Wealth Management’s real estate investment business, formerly known as RREEF Real Estate, since October 2012.