Samsung SRA Asset Management Co., Ltd., Samsung Securities Co. Ltd. (KOSE:A016360) and Samsung Fire & Marine Insurance Co., Ltd. (KOSE:A000810) won the bid to acquire Commerzbank tower in Frankfurt from two closed funds managed by Commerz Real AG for KRW 900 billion on August 12, 2016. Samsung SRA Asset Management Co., Ltd. is the lead investor in the transaction. The transaction is expected to be completed in one or two months after due diligence is completed. Drooms provided due diligence for the valuation of the property. Linklaters advised ING as original lender, underwriter, bookrunner and mandated lead arranger in relation to the EUR 400,000,000 acquisition financing of a trophy building in Frankfurt, the Commerzbank Tower, acquired by Samsung (represented by Patrizia AG). The deal is structured as an asset deal where Commerzbank will in a first step acquire the property from the current owner and then sell it on to Samsung. These steps needed to be considered in the Facility which is based on the German law LMA Real Estate Finance Facility and cover-pool eligible. Prospective lenders and part of the final syndicate will be BayernLB and Deutsche Pfandbriefbank. Christian Keilich, Jörg Rhiel, Thorsten Sauerhering, Agnieszka Anna Pikul, Carmen Büker, Dennis Blechinger, Dominik Engl, Jörg Reinshagen, Laura Lamster and Magda Pawela-Häusler of Clifford Chance in Germany acted as legal advisors for Commerzbank AG. Liane Muschter of Ashurst LLP Germany acted as a legal advisor to Samsung SRA Asset Management Co., Ltd., Samsung Securities Co.,Ltd. (KOSE:A016360) and Samsung Fire & Marine Insurance Co., Ltd. (KOSE:A000810).

In this transaction, PATRIZIA Immobilien AG is acting as an Investment manager to Samsung Group.